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Fallingwedges

How to think like a trader and gain 8% in BPCLFollow me on trading view : in.tradingview.com This is a series where we discuss stocks recommended by you guys: Just comment on the fav stock you want analysis on or DM me ;) 👑 Terms used if you don't know : ✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa until one of them wins ✣ Structure and trend: Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a trader's success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows ✣Breakout: Breakouts are commonly associated with ranges or other chart patterns, including triangles( HERE WE WILL SEE THIS ONE ), flags, wedges , and head-and-shoulders. These patterns are formed when the price moves in a specific way which results in well-defined support and/or resistance levels. Traders then watch these levels for breakouts ✣ RSI DIVERGENCE: A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position. ✣ Supply/ Demand: In the supply zone , the prices are higher than the bid price, and in the demand zone , they are lower. The bid price is what a trader is willing to pay for a stock 👑 Important levels - explained well 👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :) ⌛ Motivational and psychological area ⌛ ✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only. ✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow ✣Don't lose hope and keep grinding ✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily. ✣Focus on the process, you are here to make money not stupid decisions and lose it all ✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market. ✣Believe in yourself :) 🎓🎓 Some info about me :) ➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all. ➼I hope you will love my simple analysis style. ➼Feel free to suggest your view on this as learning is earning here :) ➼I take my trades on my Zerodha account :) ➼I don't take all the trades I post ➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
NSE:BPCLLong
by Averoy_Apoorv_Analysis
15
The Falling Wedge Proves Itself Again | Bitcoin In my previous analysis I talked about The falling channel Bitcoin was in. However when I took another look at it, it looked more like a falling wedge. This does not make any difference in the outcome of the price but this shows that TA can be subjective. But that is not what I wanted to talk about. Falling wedges and channels are my favorite bullish trade setups for any asset and it shows again. The setup is as follows: 1: We spot a falling wedge or channel preferibly on the daily timeframe or higher. 2: The price start going sideways at the bottom of the channel or wedge. This is where you want to buy. Look for a bullish divergence on the rsi on the hourly or maybe even the 15 min chart for an even better setup. 3: Set a stop-loss in case the price breaks support. 4: ? 5: profit On this chart we can see 2 horizontal white lines above the current price. These are the price targets for this setup.
COINBASE:BTCUSDEducation
by VinanceYT
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.
NSE:NIFTYEducation
by Equity-Earningz
1