Breakdown
Btc is trading within symmetrical triangle, what next?Hello everyone, welcome to this quick update :-
BTC is trading under the triangle as of now and is successfully holding the 39k level since the breakout.
What matters the most is we need a healthy retracement here.
There's also a CME gap around 38k level.
So this pump could end up being a trap.
Just my opinion!
Expecting breakout in the next 4 to 6 hours.
The direction of the breakout will decide the trend.
Break above the 41k level can take BTC to upper resistance levels around 43k to 48k and eventually 52k.
Breakdown means test of 38k and continue to the upside for 43k to 48k .
In both ways we are bullish .
We wait for the breakout now.
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Power of Symmetrical Triangle !ASAHIINDIA is forming symmetrical triangle pattern which is famous for giving breakout and breakdown both. If stock gives breakout from this pattern that it can be a good swing trade ( Also watch overall market sentiment). Also note that this chart analysis was done by me for educational purpose, feel free to share your feedback/queries.
End run of Steel - Bearish view of JSW A 30min chart shows that price has halted at its support level which if broke we can see the target of 712-710 with a strict SL of 750 levels.
But if it retraces to 750 level then we can get a discounted price to short the stock with a strict SL of 765-770 area.
It all depends on the Broader market view so do look for Nifty and Nifty Metal indices before shorting.
MINDTREE LOOKING The stock has respected the trendline support
Two possibilities
1.Breakdown from the trendline and downtrend continues
2.can take support at the trendline and move upside.
Always wait for the breakout and trade & wait for the candle to close
Disclaimer: Please consult your financial advisor,
Investment/Trading in the securities market is subject to market risk, We are not responsible for your profit or loss
INDUSTOWER SYMMETRICAL TRIANGLE The stock has formed lower high and lower lows resulted in a symmertical triangle pattern and now the stock breakdown so we can expect some fall in upcoming days
Disclaimer: Please consult your financial advisor,
Investment/Trading in the securities market is subject to market risk, We are not responsible for your profit or loss
TITAN Big Bull favourite I'm expecting a breakdown (maybe the stock can take support at the level and possible for a double bottom and move upwards)
The Reason Why I'm bearish:
1.Bearish Engulfing at channel resistance
2.Global crisis
3.Nifty looking weak
4.Rangebound breakout will be very effective.
5.Avoid taking long for this month(index looking weak )
Disclaimer: Please consult your financial advisor,
Investment/Trading in the securities market is subject to market risk, We are not responsible for your profit or loss
EICHERMOT--WATCH FOR BREAK OUT OR BREAK DOWNAfter the Head and Shoulder breakdown the price is now at a crucial support level. We may see a reversal from the current support to the trend line.
Be prepared for an outcome on either sides. Can be a good trade on either sides if volumes are good. Wait for price action.