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Pennantbreakout

TRIANGULAR-BREAKOUT-UPTREND-PRICE-ACTION-VOLUME-PROFILEDisclaimer-: 1. FOR WHOM VOLUME PROFILE AND MY METHOD IS A LITTLE NEW OR BLURRY . I WILL SOON PUT UP AN EDUCATIONAL POST WITH DETAILS AND EXAMPLES. WE CAN HAVE A SERIES OF DISCUSSIONS THERE TOO. DO FOLLOW MY ACCOUNT TO GET NOTIFIED. 2. Do ask your questions in the comments if any. Volume Profile-: Using Volume Profile one can identify probable accumulation or distribution regions by comparing the historical Volume at Price and current Volume at Price. 2. If the current volume is low, its mostly a pause before the trend resumes 3. If the current volume is higher or equivalent to historical levels then either the trend will resume or it may reverse. If it resumes then we have more strength in trend due to more accumulation. So a breakout/breakdown will confirm in this case OBSERVATIONS-: 1. Triangular Breakout and then resistance at 1024 level. 2. But the recent volume is comparable to the historical volume that accumulated before the long rally happened. 3. So the current could be a consolidation->breakout=long position. ENTRY-: Confirmatory breakout above 1024 level. TARGET-: Since the expected rally could be as big as previous one since the accumulation is highest in the current region so we aim for at least 100% Fib Ext Level- 1450 STOP-LOSS 865 is the best recent support level tested multiple times. So stop-loss somewhere around that level. EXIT Since the target is above all time high. Its a provisional target level. So it doesn't make sense to exit at target rather hold on to it as much as possible and keep conservatively trailing stop-loss. Following can be used as exit signals or bearishness signals. 1. If there is bearish candlestick pattern in 1D timeframe, stop-loss can be trailed to a nearby support level .(Like Candle Low) 2. If there is RSI Divergence in 1D timeframe, better to exit at close of 1D since afterwards there can be long consolidation or reversal. 3. If the trailing stop-loss is hit, please exit **IF YOU LIKE MY ANALYSIS, KINDLY GIVE A THUMBS-UP AND SHARE IT IF POSSIBLE, HELPS A LOT :) **I WILL POST NECESSARY , SIGNIFICANT CHANGES IN THIS THREAD LIKE ADDITION TO POSITION, EXIT SIGNALS, BREAKOUT ETC. TO AVOID MISSING OUT ON UPDATES PLEASE REMEMBER TO FOLLOW THE POST AND MY ACCOUNT. **YOU CAN TURN ON NOTIFICATION TO BE UPDATED OF CHANGES **ANY COMMENT ON THE ANALYSIS WILL BE HIGHLY APPRECIATED. NSE:KAJARIACER
NSE:KAJARIACERLong
by VPA_TRADER
Buying Pennant Breakout - Riks/Reward 1:4+Entry at 662 Stop-loss 632 Target 788 ( Set as 161.8% of Wave1 ) Risk/Reward 1:4+ Voltas is in a strong uptrend. Price is trading inside an upward channel and formed a bullish pennant. Pennants look very much like a symmetrical triangle but are typically smaller in size, ( volatility ), and duration. Voltas is in a 3rd Wave and Impulse wave 3 often is the wave with the biggest move. So, usually, wave 3 will move up above or at the upper line of a trend channel. In a rising impulse wave, it is common for the price to reach 161.8% of wave 1.
NSE:VOLTASLong
by Equity-Earningz
6