A pennant is a small symmetrical triangle that begins wide and converges as the pattern matures (like a cone). Here is an example of IEX. The company has declared a good set up of numbers on 22nd July. Profit after tax is up by 48% Sales are up by 36% The price is now hovering near the previous Resistance which now acts as a support Tight price range near the...
This video discussed a bearish harmonic pattern that might be quietly sitting & hiding in the price structure if unfolds exactly holding below 16701.85 then the downside support could be 16510-16530 / Below 16500 for 16370-16390. ----------------------------------- Last Nifty Video Idea ----------------------------------- Hope you enjoy the video. Good...
The quality of our life depends upon the quality of the question we ask. I think it's the same with trading also, successful traders ask better questions, and as a result, they get better answers. They get answers that help them to know exactly what to do in any situation to produce the results they desired. Below are the 5 questions that will help you to stay...
The Symmetrical Triangle is usually a continuation pattern. It represents a pause in the existing uptrend after which the original uptrend gets resumes. A breakout from the upper trend line marks the continuation of an uptrend while a breakdown from the lower trend line marks the start of a new bearish trend . This pattern is also known as a wedge chart pattern. ...
Look for Low risk, High reward, and High Probability setups. – Richard Weissman Scenario Many traders get destroyed by fighting the trend, insisting that the market is due to reverse itself or they try to chase the market. They may try to catch short-term countermoves in hopes of making a few quick points, or they may always look to catch tops and bottoms in...
In this video I talk about how we can find good buying opportunities when the markets are witnessing correction. I'm using 10,20,44 Exponential Moving Averages on my chart along with RSI(14) indicator. On the screener we are looking at stocks which have Market cap greater than 50 Billion & sorting the 3 month performance from high to low. The rationale behind this...
A high probability trade is a trade that has a greater chance of success than a regular trade. So, how can you find these high probability trades? There are a few things that you can observe to find that golden confluence of various important things such as a support level, demand zone, Fibonacci level, moving average, volume, RSI, etc. The confluence zone...
Stock tried to break out then failed. Came down. As expected with down move came big volumes. How ever the last bar ( Green Arrow ) before pullback was with highest volumes in later end of the down trend, Usually it looks bearish but it is trend reversal because market makes wont short at such lower levels. Then comes the pullback ( purple arrow ) with small...
As soon as we see a breakout on the chart we form a basis ( or have a belief ) that the stock will burst and go upside. We should not try to predict the market. Instead, we should wait and let the market tell whether the breakout is false or true. You can crosscheck with other indicators. I personally use PRICE ACTION data i.e. after breakout the upper trend line...
Nifty metal Index now at 5770 Time Cycle 1 , Based on Fibonacci extension,, Price wise the extension of 1.618% of last down swing have now extended to maturity levels,, ended this week,, Price wise the extension of 1.618% of last down swing is around 5971 levels,, still 2 to 3% move is pending.. So price and time squaring around the same point in trend,, when ever...
indusindbk : 981 trade set up: 1. buy above 1062 2. keep stop loss as 908 on closing basis 3. short term targets 1130/1366/ long term targets 1598/1783/2000+ technical buy setup : 1. symmetrical triangle pattern 2. trendline 3. breakout concept. note : stock is trading more than 52weeks on lower trendline support , forming consistent month on month higher...
Falling wedge pattern ( black lines ) breakout. The falling wedge pattern is interpreted as both a bullish continuation and bullish reversal pattern which gives rise to some confusion in the identification of the pattern. Both scenarios contain different market conditions which must be taken into consideration. The differentiating factor that separates the...
Positional Pick !! The Daily is completely bullish and now the stock is breaking out on Weekly Chart. Good fundamentals. Keep Accummulating.
Hello traders, MANINDS gave a perfect monthly TL BO and is to longterm resistance, can be a good swing/positional pick above 163 for safe traders, risky traders can enter as daily closing done above 1 small resistance and also above long term TL. rest details and reasons to take entry given in the chart. check my other ideas to get to know about all the successful...
Analysis mentioned over chart.
I had previously given DLF for an entry above 313 for a target of 330. The target was well achieved. Now if you see 23rd July candle, it has managed to close above previous high of March with a hammer candle and good volumes. On a monthly chart the stock has not been able to give a good closing above 326 since November 2010. So if you see all the signs, the stock...
Zensartech has shown some beautiful indications of long-term bullishness, usually, these types of breakouts sustain for longer periods of time, have a full conviction on these types of trading setups. Do follow for more trading setups like these Thanks, if you have any queries/suggestions related to above pattern, feel free to type below in the comment section.
Kabra Extrusiontechnik Ltd is forming a cup and handle on the daily time frame. Today gave a fresh breakout. Can accumulate above 205 Wait for it to close at day high for confirmation. SL 198.90 Target 270