Chart Patterns insist me the above titled opinion
REASONS
1. BhartiArtl has been trading inside a Ascending channel pattern(bright red & green trendlines )and right now down swing move is under process(in the form of descending channel)
2. In the weekly time frame , it looks alike a Bearish pennant formation and given breakdown out of...
If you analyze the 1h TF you will find that it has broken the zone and looking good for upside.
You can use 5 minutes TF for making entry in the trade, Observe the levels on 5 TF
Nifty View: The Benchmark Nifty index has been particularly erratic over the past few weeks as it failed twice to see follow-through movement post a breakout. The daily chart of the index will reflect a “Broadening Triangle” which implies the existence of a higher high and a lower low - a classic sign of confusion. The underlying short term trend of the index is...
General Insurance is in a Pennant Pattern with a consolidation zone, so give an entry with appropriate Stop loss after the breakout from the zone
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may...
🔰 MY thought process :
⭐A broadening pattern on the Daily chart :) meeting with fibo extension giving a perfect round number of 1300 which seems to be achievable but in a while, kinda positional setup for me :)
🔰Am I taking this trade now: No---Reason: Already in the trades of Naukri and PPL as posted last time :) also took a small position in Coal India today...
L&T Finance | Short Below 128 | Stop-loss 134 | Target 105 |
Risk/Reward 1:4
It's a broadening top formation. And pretty much like what the textbook describes. Be careful because nice-looking patterns are rarely successful.
If price closes above the upper trendline before breaking 128 then the trading setup becomes invalid.
The 4 hour chart of dollar index has formed a bullish trend line.
Based on the price action,we expect the broken trend line to act as strong resistance.
Also the point 95.53 is acting as a strong resistance. Hence we expect the price action to be bearish and find support at trend line.
The 2-hour chart of GBP/CAD indicates that the pair is currently in uptrend.
The pair is currently trading in up channel formation.
It is currently trading around the lower trend line,which can act as a good support for buyers.
On the contrary,if the support breaks, a major sell off can be seen.
It is been observed on the Hourly Chart that the price action forms a U shape Cup and a channel shape "Handle" in order to complete the a cup-handle pattern. Measurement is the interesting part of it as it is been respected accurately.
I hope it adds value to your trading experience.
Regards
![HCLTECH: [Inside Bar] HCL Pennant](https://s3.tradingview.com/6/6Swj2o1M_mid.png "[Inside Bar] HCL Pennant")
