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Expandingtriangle

MUTHOOTFIN Down to see 800 level ??!!!Chart patterns insist me the above titled opinion. Reasons 1. Muthoot finance has been travelling in a expanding triangle pattern from 2015. 2. Till now, its respecting the pattern by taking support and resistance at perfect levels. 3. Currently it is in downswing inside the pattern. 4. It may take take support at the Major support (GRENN LINE 800 LEVEL ) soon . In Weekly timeframe, there is BEARISH PENNANT formation , yet to give BREAKDOWN. 5. only if the Bearish Pennant gives BREAKDOWN , we can confirm the down move . I will update(Target and SL) once it gives Breakdown!!! We need to wait, as the breakdown can occur this week or 2 month later or never. Let's wait for the Market's decision!!! As of now, (on seeing the chart) its not easy for bulls to charge up. Note : Just sharing my view....not a tip nor advice!!!
NSE:MUTHOOTFIN
by mmjimm
7
DELTACORP Out of Bears control ??!!!Chart pattern insist me the above titled opinion REASONS 1. DELTACORP is trading inside a expanding triangular pattern . 2. It is seen respecting the pattern till now. 3. Currently , it is in the upswing move(in white channel pattern ) inside the expanding triangle pattern. 4. DECEMBER 23 & 26 candles make the Bullish harami pattern at the perfect support level .(with volume spike) 5. 238 is the resistance level( Breakout of the yellow trendline) to cross for the expected up move !! 6. Target & SL mentioned in the chart. There may be swing inside the white and yellow line before breakout. Let's see!! Day closing below 185 - Strict SL . In the chart , I tried to show the broader (Monthly timeframe) view ( in the form of a snapshot ) .....Hope it helps....if confusing, feel free to ask!! Let's wait and watch how it moves!!! Note - Just sharing my view......not a tip nor advice!!!
NSE:DELTACORPLong
by mmjimm
BHARATFORG Ready for Upmove ??!!Chart pattern does insist me to go with above titled opinion REASONS 1. Bharatforg has been trading inside Expanding triangle and currently it is under its upswing move inside the major expanding triangle. 2. In Weekly timeframe, there is a Bullish Pennant formed and Breakout has happened it seems( volume not so good ) 3. Target and SL mentioned @ chart 4. SL(less risky) can be Day candle closing out of dark blue Ascending channel . 5. Pink trendline (884 level) seems tough and Day close above that line may confirm the bulls approach !!! Let's wait and watch how it moves!!!! Note- Just Sharing my view....not a tip nor advice!!!
NSE:BHARATFORGLong
by mmjimm
DIVISLAB Down to FILL GAP ???!!! Chart Patterns insist me to go with the opinion titled above!!! REASONS: 1. Divislab has been travelling in a MAJOR Expanding Triangular pattern . 2. It's been travelling in a Descending Channel pattern(downswing inside the major pattern). 3. Soon the Stock may take support @ the major support.(Green line shown in chart). 4. There is also a GAP (occured in Aug 2020) ....which too can act as Support!!!(thus gap can be filled.) SL- Day candle closing above 3770 Target - 2900 Let's wait and watch whether its going to take Support or Break it!!!! Note - Just sharing my view ....not a tip nor advice!!!!
NSE:DIVISLABShort
by mmjimm
HEROMOTOCO Ready for Bulls Ride ??!!!!Chart patterns convincing me to post the above titled opinion REASONS 1. HEROMOTOCO has been trading inside a Expanding Triangular Pattern by Taking support & resistance at respective levels 2. Currently, it is going through the up swing move inside the pattern 3. 2022 November Monthly candle seems to be an INDICATION for RACING BULLS ARRIVAL(with high tested) 4. No other Auto stock gave such a Bullish November candle 5. The same November candle broke and closed above the WHITE trendline with Volume SUPPORT!!! 6. Inverted Head & Shoulders pattern formed, Same November candle seems to be the breakout candle again!!! 7. Big move can be expected in the coming days.... (Probability looks more for the upside!!) 8. Target & SL levels mentioned @ chart 9. HEROMOTOCO composes 5.97% WIEGHTAGE in NiftyAuto index and 0.47% in Nifty50 index !!! Monthly chart close look below DAILY TIME FRAME BELOW Let's wait and watch how it moves!!!! Note - Just sharing my view....not a tip nor advice!!!!
NSE:HEROMOTOCOLong
by mmjimm
Real-Time EICHERMOT with deep study of Triangle variety.What's the difference between a running triangle and, contracting triangle? Trick is very simple. The wave "B" is beyond the origin of wave "A" we have diagram in a chart. Respect to the triangle a few things to remember. 1) they can only form by themselves in wave "4" , wave "B" , wave "X" and rarely wave "2" . That being the case, triangles always proceed the final move within a sequence. 2) The final move of the triangle which is referred to as a triangle thrust that is either typically small or very large. Rarely is there a medium type move. 3) If you're very aggressive and you want to try and capture the final move. Okay, because that would give you maximum profit potential in this. That's not my training trading style because it is aggressive. When you do this, most people have a tendency to want to put a protective stop at the extreme at wave "C" but I do not recommend that, Actually recommend putting the stop at the extreme of wave "A". Now you know, with respect to the wave principle, there's two types of wave form survey modalities, Motive waves and Corrective waves. Now with within the corrective wave family are specifically, we have zigzags, flats and triangles. We're going to be examining Triangles. And within the triangle family there's actually 3 subsets or three types of triangles: 1) Contracting triangle, 2) Barrier triangle and, 3) Expanding triangle Now, any kind or types of Triangle, and its easily to identify because the trend lines. Connect line the extreme of waves "A" and "C" coverage & "B" and "D" coverage with trend-line. There's very minor variation the the Contracting Triangle and Running Triangle. For Running Triangle wave "B" exceed the origin point of wave "A" . Next is Barrier Triangle and its forming rare or less and its easy to identify because of one trend-line which connect actually a Horizontal and another connecting trend-line will slop in the direction of larger trend. Last type of triangle we're going to examine is going to be an Expanding Triangle. In this triangle is actually very very rare. This only this type of a triangle forms only 10% of the time or less than. The most distinguishing characteristic of the expanding triangle is that true lines which connect the extremes of wave A and C & B and D coverage is actually expand. This is EICHERMOTOR weekly price chart, Scenario 1 which is under-construction for Symmetrical Triangle. The contracting for wave (B) of wave B. Here, the probability of wave ((D)) as complex. We've been learning a lot about triangles and it is actually one of three corrective wave patterns , zigzag, flat and triangles family. There is actually 3 different types of triangles we have contracting triangle., barrier triangle and expanding triangle. Now a variation of the contracting triangle that we examine was also referred to as a running triangle. We've learned that triangles me only form by themselves in the wave "4", wave "B" and wave "X" positions in that triangles always follow or proceed. Excuse me to proceed the final move within a sequence. Sometimes the move The thrust following a triangle is very small. Sometimes it's very very big, so this is. Now we're actually gonna do today is actually apply what we've learned about triangles to some relevant or a timely markets. The EICHERMOTOR chart is one right here. Whenever I look at triangle pattern characteristics which is covering trend-line. The wave ((b)) is not beyond the origin of wave ((a)) that why this is not "Running Triangle" but its a "Contracting Triangle". Thrust Measurement Technique : The simply taking the widest portion( horizontal green dash line ) of the triangle and measuring it in this instance upward from the extreme of wave ((d)) which is 3300 +. The wave ((d)) is very strong evidence whenever price cross about it and the wave ((e)) can be little exceed wave ((c)) or it can complete under the wave ((a)) and ((c)) connected trend-line. Personally I recommended protective stop at or below extreme wave ((a)) . Daily price chart for closer look: Trend-lines observation for turning point: Fib. ratio of all sub-waves: Thanks.
Editors' picks
NSE:EICHERMOTEducation
by Trade-Technique
33
Example of Expanding Triangle Howdy Traders, we already know that Triangle occurs in Corrective waves and Diagonal occurs in Impulsive waves. Their are three type of Triangle 1)Expanding Triangle 2)contraction Triangle 3)barrier Triangle Their are 2 types of Diagonal 1) Leading Diagonal 2) Ending diagonal --------------------------------------------------------------------- This is the example to expanding diagonal Rules : wave C,D,E each moves beyond the end of the preceding same - directional sub wave. sub waves B,C and D each retrace at least 100% but not more then 150.75 % of preceding sub wave. sub waves B, C, D usually retrace 105 to 125 % of the preceding sub wave. No sub wave has yes been observed to subdivide into a triangle
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NSE:HAVELLS
by supreme_bull
17
Silver and Elliott Wave in a bull MarketOm Namah Shivay Brothers, Trying Elliott wave on Silver to find the market structure based on EW. The structure is too early to confirm. But a good learning and practice to make the future market structure before time. The structure of market always change and the prediction should be with time. Starting counting directly from the top formation. Not considering the other structures from the bottom up. Silver can be in a Triangle. To put a triangle on a bull market we have four options. 1. Ascending 2. Descending 3. Contracting 4. Expanding And here if we try to fit, the expanding triangle is the option. But it is too early to confirm. There is no Fib. measurement done to calculate the future levels properly. But the structure can be as in picture. This is a learning. There is no recommendation for trading. Om Namah Shivay
MCX:SILVER1!
by sudhannayak