Chart patterns are the foundational building blocks of technical analysis. They repeat themselves in the market time and time again and are relatively easy to spot. These basic patterns appear on every timeframe and can, therefore, be used by scalpers, day traders, swing traders, position traders and investors. There are 3 types of patterns, depending on how price is likely to behave after completion: reversal patterns, where price is likely to reverse, continuation patterns, where price is likely to continue its course and bilateral patterns, where price can go either way, depending on whether it breaks to the upside or to the downside.
The measurements of the chart pattern can be used to project the next price movement and what target to aim for. These patterns can either be traded aggressively (with less conformation) or conservatively (with more conformation) so the rules of entry and exit can vary. It's easy to calculate the reward / risk for them, which is important to know before entering a trade.
2 back to back marubozu.
island reversal setup
very strong support zone at 11550-11560
if that goes, nifty should fill gap.
trading plan-
plan 1-
as we can see 11560-11550 zone is imp support, we can see a bounce . any bounce towards 11700 shall be used to short nifty sl 11725.
plan 2-
one can wait for nifty to come near...
Bank Nifty has formed a double top on daily and with two days of sharp selling , high chances of going down further to test the 61.8 % pullback to the support zone . Can go short on rises or at CMP with stop loss of 30,800 .
Targets of 28,400.
Value creates support and resistance zones for price.
The stock is following a down trend.
It is on the resistance and can move down by taking its resistance.
It also has a short term support.
The volume stable.
Formed a triangle in a down trend.
UPL seems to be going up.
> In an uptrend
> Symmetrical triangle pattern, price broke above it
> Target 950 and 960
> MACD positive and Rising
Happy trading :)
Reliance Industries has been in a uptrend for a very long time. The stock has been consolidating at a strong support zone for more than a month and is now broken.
However, its important to confirm support on the broken side of the triangle and then enjoy the LONG ride!
AS PER MY APRIL 16TH OBSERVATION, THE PRICE HAD TOUCHED NEAR 533.
FROM NOW ONWARDS, IT APPEARS THAT UPTREND MIGHT BE RESUMED.
SEE THE NOTES IN THE CHART.
Hi guys, ISEC good ideas for swing trade long probable can be long term too if the structure break and confirm valid Head and shoulder formation
***Use Proper Risk and Money management Rule if you don't had a one please watch the play don't trade
If you like the idea hit the thumbs up ,comment below your Q's and do share which will encourage me to post more...
FIBONACCI STUDY
THE FIRST WAVE START DATE 19 FEB 2019 TO END DATE 20 MARCH 2019 - 1000 POINTS
BASED ON THIS IT RETRACED TO 0,786 OF WAVE-1
AGAIN IT IS BACK TO 11580 LEVELS, TODAY.
IF ONE PROJECTS FOR WAVE 5, THEN 11944 SEEMS TO BE IDEAL.
STOP LOSS IS 11565 LEVELS.
(LONG IS PREFERRED AS THERE IS NO SELL SIGNAL FROM THE CHARTS. AND, IT HAS STRONG SUPPORT AT...
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