EUR/USD Technical analysisThe falling wedge pattern which held the EUR/USD in the downtrend has been broken.
Also, the preceding bearish move was characterized with minimal corrective rallies.
Hence, this breakout will render a trend reversal, if at all a corrective rally, and move to the resistance at 1.3236.
Falling Wedge
BEML Falling wedge + Bullish Divergence + Horizontal Support1 Year Long Falling Wedge can be found on BEML Daily Chart.
If the chart is zoomed out, One can see the stock is sitting on Horizontal Support Currently.
RSI Bullish Divergence is visible and can expect bounce from this area.
Resistence: 640
Stop loss below horizontal support.
FORCE MOTORSA falling wedge pattern since jan 2017, however for the reveral a breakout has to be there, expecting a breakout in Oct, 2018 (between 8 &15) weekly basis.
Entry only after the breakout.
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
The Hi-Tech GearsBullish pattern with 3 falling wedges followed by symmetrical triangle which gave a breakout. The target is 520 levels. Once 520 is achieved a rounded bottom pattern would be formed. Post that we have to wait for the charts to break the neck, for further upside.
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
kotak mahindra bankFalling wedge pattern spotted , generally it can be spotted after a rally. It is a bottom reversal pattern, to reverse there has to be a breakout from the pattern.
Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
FALLING WEDGE PATTERN ( REVERSAL OR CONTINUATION)Reversal or Continuation Pattern
Falling Wedge
Prices are moving downwards, forming lower highs and lower lows, but the price is confined within two lines which get closer together to create a pattern. This indicates a slowing of momentum and it usually precedes a reversal to the upside. This means that you can look for potential buying opportunities.
IDENTIFICATION GUIDELINES
1. The Shape of The Falling wedge –
Two price trendlines both sloping downwards, the upper one following lower highs and the lower one following lower lows. Both trendlines must slope downwards and eventually intersect.
2. Formation of The Falling Wedge –
Prices should hit the upper trendline at least twice(2-4), then fall away. Prices should fall to the lower trendline at least three lows(1-3-5), then rise up and be giving a final breakout. When you see less than 3 swing lows and 2 swing highs between the downsloping trendlines, be cautious about it.
3. Duration of The Falling wedge-
The Falling Wedge has a minimum duration of 3 weeks and it rarely exceeds 3 or 4 months long. Anything less than 3 weeks of duration likely to be a pennant formation, not a falling wedge.
4. Volume inside The Falling Wedge –
Volumes tends to be decreasing through the formation.
5. Pre-mature or False Breakout –
Because volume is usually low in The Falling Wedge formation, it takes very little activity to bring about an erratic and false movement in price, talking the price outside of trendlines.
6. Breakout –
Price closing above the upper downward sloping trendline confirms the breakout.
HOW TO TRADE A FALLING WDEGE
Trading Rules.
1. Entry –
Buy the stock day after Prices closing above the downward sloping upper trendline. If you miss it, wait for the pullback then buy when price resumes the breakout direction after the throwback completes. When you missed and, If you Don’t Get A pullback to the lower rising trendline then Don’t Chase The Stock Price for buying.
2. Price Target –
The technical target is the price which was a starting point of the downward sloping upper trendline.
3. Taking Profit –
For short-term traders, sell when the price reaches near to the price which was a starting point of the downward sloping upper trendline. For intermediate and long-term traders, hold the stock as per your risk & capital management applied before entering into a trade.
4. Stoploss –
usually, price closing below the pattern swing low is a stop-loss. But very often, The gap between the pattern swing low and breakout price is very high. So it won’t be suitable for a good risk-reward ratio. Without a Good Risk to Reward ratio in trading or investing can never create a wealth. What is the point if you are losing big and earning small? Learn to trade patterns like a pro to get maximum profit out of it.
Vedanta – Bottomed out ?The entire Metal index has been hammered for a long time now, especially Vedanta NSE:VEDL which is amongst the worst hit stocks.
I can see some green shoots emerging today with the stock giving a falling wedge breakout and rising RSI.
Good opportunity to go long here with a small stop loss for a first target of 222.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
GBP/USD Technical analysisThe pair has formed a falling wedge pattern and has given a valid breakout above the wedge.
It can witness a throwback and the price can retest the wedge line once again.
Based on the current momentum and with the application of Murrey math line,we expect the pair to move towards the resistance zone of 1.35538
NSD/USD Bat Pattern Key Points.
1. The New Zealand Dollar is still struggling to find a direction.
2. on 30 March NZDUSD break Trend and now it is struggling.
3. On daily chart it is Falling wedge Pattern According to that if it goes up today and Complete Bat Pattern still it Gonna Come Down so double possibility of Bearish Reversal Bat pattern. ;)
SREINFRA,Inverse H & S +Bull Engulf + falling wedge->> go go goNSE:SREINFRA It is trading in a falling wedge pattern and about to breakout upwards.
A valid Inverse Head & shoulders pattern has been formed and also the last two candles form Bullish Engulfing pattern.
Confluence of all these factors suggest for long positions .
Longs may be taken at current levels with tight stoploss below 100 or once it breaks the trendline with stoploss around 97.
We can see targets of 112,125 and 140.
Broke out of pennant - Short term tradeHere is a short term trade for LTC. Currently LTC is getting traded at low volumes. Probably because of all the news in the media.
It broke out of the pennant (falling wedge) and currently hovering close to fib level 0.786. If it manages to surpass this resistance then it'd find resistance at fib level 1. Now that is close to 20 points high.
Looking at RSI, there is enough room for buyers.
MACD is showing a bullish divergence.
That said - here is the short term target.
Buy - now ($280)
Target Profit - $300 - $309
Stop Loss - $271
As always, please feel free to revert with feedback and questions. Merry Christmas and happy trading!
#INFRATEL - Falling Wedge & DowntrendlineINFRATEL has formed falling wedge pattern and is on the verge of upside breakout.
CAPF Falling WedgeFalling wedge pattern have been observed in CAPF, after breaking pull back have been done. Can initiate buy at 61.8 Fib levels with Stop below Fib 50% level