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.
GETTING SUPPORT ALONG THE TREND LINE.
IT IS ALWAYS STRANGE WITH AL THAT WHENEVER IT APPEARS POSITIVE ON THE CHARTS, A PRICE FALL IS SEEN IN THE LAST FEW WEEKS TRADING.
I HAVE MY OWN INTUITION THAT BIG ACCUMULATION COULD BE HAPPENING.
CLOUD TWIST IS NEARBY, LET US SEE WHETHER THIS WILL REVERSE TOWARDS POSITIVE SIDE.
NEXT SUPPORTS ARE AT 82.4 AND 81.7.
NIFTY is trading in a falling channel as we could observe from the chart. Immediate support lies at 11615. Fibonacci extension (1.618) of previous upswing between 11769.5 and 12000 (as marked in chart) falls at 11626 which more or less comes in at same level.
Technically, even though we could see patterns like Head & Shoulder and Rising Wedge whose targets run...
Hi all, CNXIT will move one more upside look for breakout of trend line
Entry 16197
Exit 16085
Take Profit 161485; 16625
If you have any Question feel free comment below and if you agree with my ideas let me know by your likes
Thank you for your support
--Prabhu Rajarathinam
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=136.55.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=137.5.
TP4: R2=137.8.
Set the stoploss of these orders at breakout of S2=136.35.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
From Technical Analysis point of view Celr is riding the trendline support well. Its bounced off thrice from this level already. Stochastic RSI is oversold on the daily chart and it will cross bullish soon.
CELR is also launching its Mainnet on 8th July and we can expect a good pump. We all know binance Launchpad coins pump hard. So buy this one and hold until we...
Follow on twitter @piyushrawtani for live trading ideas .
JD is forming a head and shoulders pattern on a declining volume after a parabolic move .
Can go short at CMP with a stop loss of 700 and targets of support level of 700 and 675 .
Technical analysis:
. Isimple/Dollar is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 51.
. While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue.
Trading suggestion:
. There is a possibility of...
Technical analysis:
. Miota/Bitcoin is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 36.
. While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue.
Trading suggestion:
. There is a possibility...
this is a continuation wave count of my earlier published chart here ,,,,, we have to reach 12300 to 12500 for final leg of expanding diagonal. some time we sort of its minimum target .. of final fifth leg "E"
so are we top out or not ? time will be tell
first support at 12300 and after 10100 is stand at bottom line of triangle, time frame is 2 to 6 month
At the value low, found the tail where price moving toward the control price.
Trader always tries to short at control price but not aggressive.
Short selling aggressively good at the excess, therefore at value high I have mentioned the short point.
Short Sellers have two points to short, control price at 1293.5 and 1297 nearby.
Exit at comfortable...!
the stock traded in a very narrow consolidation zone for the last couple of hours yesterday, so when it breaks, it can show good moves.
SL is mentioned when short or long triggers.
trail the stoploss to book target or get out as per your wish.
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