A channel can be used as an entry pattern for the continuation of an established trend, as part of a trend following strategy. A channel forms when price action is controlled by 2 parallel, sloping lines and has tested each of these lines at least twice. An ascending channel indicates a bullish trend, with the support line connecting consecutive higher lows and the resistance line connecting consecutive higher highs.
A descending channel indicates a bearish trend, with the support line connecting consecutive lower lows and the resistance line connecting consecutive lower highs. Generally speaking, the support line of an ascending channel is a buy zone and the resistance line of a descending channel is a sell zone, while the opposing lines are profit-taking zones. A common stop level lies on the other side of the buy or sell zone. Conservative traders may look for additional confirmation before entering a trade. TradingView has a smart drawing tool that allows users to visually identify channels on a chart.
Price action is moving within a descending channel. Bullish above 27020 for the targets 27360, 27640, 27880 and 28120. Bearish below 26680 for the targets 26420, 26180, 25840 and 25600.
AB=CD Is Completed.
Moving In Short Term Channel.
At Resistance Of Channel.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
Prices have formed nicely "3 Drives Reversal" pattern and offering a good trade at current level.
Entry 74
SL 72.5
Target 79
Risk/Reward Ratio above 3
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
We will look forward to an opportunity to go short once Yes Bank shows weakness at the sell zone marked.
PS: Wait for Yes Bank to reach the sell zone and we will go short only after it falls from the sell zone with SL above the swing high.
Only aggressive traders can go short as soon as Yes Bank moves into the sell zone.
Price has formed the big W pattern and also broken the intermediate term Trend line so one can conclude that downrend is over now and prices are supposed to move up. Prices have retested the down sloping trend line from above and bounced back. It is getting some resistence at the previous high level so one can use the retrace for a good entry. One can invest in...
The stock has formed a 3 Drive on Top reversal pattern at the 78.6 fib level of last swing. RSI is not supporting the 3rd top and showing divergence. It has came back to Bollinger Band so it seems to be a good short trading is possible here. One can shot below the 10890 with small SL of recent made high and expect the target of 10500/10100.
Disclaimer : All ideas...
Moving In Channel.
Buy In Demand Zone As Per Comfort.
Risk Reward Favourable.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
Nifty seems to have reached the level and could give a good short trade. There are multiple resistence in different Time Frames at 10840 level so it could be a good idea to sell Nifty at this level by providing the SL of 10920. One can look for a target of 10600 which offers a potential of good 240 points and a reasonable risk to reward ratio.
Disclaimer : All...
Price action has nicely formed UP Sloping Channel which is quite easy to trade. RSI above 50 is also confirming the decision and today's bar has made a 3LR reversal pattern. One can take the long position as the details given below
Entry 216
SL 208(closing)
Target 232
Risk/Reward Ratio 2,67
Disclaimer : All ideas are my personnel view. Please take financial...
AS YOU CAN SEE THERE IS A GREAT SUPPORT NEAR 68 TO 70 RS. CHANNEL SUPPORT AND FIBONACCI SUPPORT IS ALSO THERE . LAST TIME SUPPORT IS ALSO THERE. TARGET RATIO IS ALSO VERY GOOD
Moving In Upward Channel.
At Support of Channel.
At Support Zone.
Fibonacci Support.
Above 235, Harmonic Pattern AB=CD Will Be In Action.
Risk Reward Looks Favourable.
Will Review TSL Near Targets.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI...
The Stock is forming Parallel Channel nicely. It is at the interesting point so one can watch the stock and trade accordingly. Budget speech is over so volatility would be normal now.
Facing Resistance At New High.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
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