Well, many traders spotted the head and shoulder pattern, but it can be seen that stock didn't move much after the breakout but consolidated in a rising wedge for some days(which is generally a good sign).
Now, in the morning I was looking for an entry so after looking at the 1-hour time frame, I found a perfect triangle rising wedge pattern, so I was waiting...
On Monthly timeframe of near ,we can see it has retraced all the way to last year June July levels ..if previous year pattern has to be followed near should bounce off from here to tp atleast 7-7.5$ by the end of next month..as for btc monthly closing above 22.8k would be bullish for it and further rally for 28-30k area would be expected in August month..and there...
AU is creating HH formation so next key area is around 0.72500. if we break the previous high there is probability that we gonna test 0.72500 as its clear uptrend.i habe also mentioned the stop loss which is below 2 nd HL which is safe and its not gonna hit if we continues the uptrend once if in 30-40 pips profit trail sl to hl accordingly.
Make sure you do your...
GOLDEN CROSSOVER, 50 DAYS MA moved upwards crossing 200 DAYS MA.
SECTOR: MEDIA a bullish sector.
LOW PRICED stock.
Fundamentals improving gradually, SUPER Q3 22 result.
PRICE STRENGTH 72, BUYER DEMAND 'A+', MASTER SCORE 55, GROUP RANK 16 OF 197 (Data from MarketSmith)
CMP 32.20, minor resistance breakout done, retest done.
Nifty metal index continues to charge higher in wave iii of 5, and it pushed MACD towards higher high.
Overall wave structure
RK buy signal activated in daily time frame
Key levels are mentioned on chart
MACD in Daily positive
MACD in weekly positive
RSI in daily uptick
MACD at Higher High
Most investors treat trading as a hobby because...
HDFC AMC : On daily time frame , a fresh breakout can be seen of mini trend line , before that the stock also surpassed the major trend line. Also stock has formed higher high formation on daily time frame which indicates that stock has begun its up trend journey. Stick strictly to the stop loss as markets are very much volatile and unpredictable due to Russia and...
EXPLANATION : This is a 30 min time frame chart of NIFTY . It has been a formation of Higher High - Higher Low . Correction is pending in the market , There is a high probability that it will become a Higher Low .
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The stock was in uptrend since its IPO. Recently after some strong candles the stock was moving sideways. Today the stock has come out of that sideways movement and formed HH HL structure. Can be a low risk entry here.
Stock was in downtrend. Today the stock after making higher low, has broken previous swing level. Thus the chart has formed HH HL setup as per Dow Theory. The stock can retest and make another Higher Low providing opportunity to add further.