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Patternbreakout

Swing Trade in Hindpetro!!Hindpetro has broke out from an inverted head and shoulder pattern (weekly chart) in which it had been consolidating for years. and the stock is retesting the upper trend line for going ahead and this would be the sniper entry point for positional traders. and I would suggest to enter after a strongly bullish weekly candle and can expect a gain of 8 to 14% returns in the coming month or couple. Never enter without the confirmation candle and keep your risk reward ratio high. Happy Trading!!
NSE:HINDPETROLong
by nichuz_99
Banknifty Forming Symmetrical Triangle What is a Symmetrical Triangle ? A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope. Trend lines that are converging at unequal slopes are referred to as a rising wedge, falling wedge, ascending triangle, or descending triangle. A symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend, while a breakout from the upper trendline indicates the start of a new bullish trend. The pattern is also known as a wedge chart pattern. The price target for a breakout or breakdown from a symmetrical triangle is equal to the distance from the high and low ( shown as Blue Line ) of the earliest part of the pattern applied to the breakout price point. The stop-loss for the symmetrical triangle pattern is often just below the breakout point. Symmetrical triangles differ from ascending triangles and descending triangles in that the upper and lower trendlines are both sloping towards a center point. In contrast, ascending triangles have a horizontal upper trendline, predicting a potential breakout higher, and descending triangles have a horizontal lower trendline, predicting a potential breakdown lower. Symmetrical triangles are also similar to pennants and flags in some ways, but pennants have upward sloping trendlines rather than converging trendlines.
NSE:BANKNIFTY
by kiranrshinde
4
SYMMETRICAL TRIANGLE PATTERN BREAKOUT IN AXIS BANK -the stock managed to break-out of the pattern today by taking out crucial resistance level in the market -on lower time frames stock managed to break above the level of 440 -after lot of failed attempts it managed to surpass that level today -the stock last traded price(ltp) is at 444 -the stock is now geared up for a big rally on the upside -join the telegram group for live updates we have already taken trades today in "axis bank" BTST TRADE IN AXIS BANK BUY@442 STOP@435 TARGET@454 !!please note trade with caution!! !!manage your risk!! !!trade-wise!! !!please adjust for future rates!! (trade active already) NEW POSITIONAL TRADE IN AXIS BANK BUY@445-448 STOP@430 TARGET-1@465 TARGET-2@478
NSE:AXISBANKLong
by manavtechresearch
11
Go long on EURCHF : Breakout of falling channelThe pair has been moving in a falling channel pattern from the past three months. Yesterday, the pair tested the 1.08230 support level for the third time and again took a bounce, ending the day with a long bullish candle and creating a morning star pattern. Moreover, the upliftment in the pair was supported by the divergence between the prices and the RSI indicator. At the moment, the price is just below the resistance level of 1.09076. following breakthrough, the prices are expected to reach 1.10467. The support for the pair is the area between 1.07997 - 1.08229. This area is important and the stop loss should be below it or it can be the lowest level of the area i.e. 1.07997.
Long
by forexnoobmaster007