Ether is currently trading in a well formed rising wedge. This is an indication of a bearish move and there are possibilities it may breach the bottom trend line (orange). If it breaches it then it will find support at fib level 0.618 (~$693). 2nd support could be found at fib level 0.5 (~$676).
These support levels could be possible reversal zones for Eth (The ...
The stock has formed Rising Wedge and showing continuous divergence. One can short the stock with small SL of high of today for a target of 440 which offers a decent Risk to Reward ratio. Wishing all the mates Happy and prosperous Diwali..
I always love to trade such a chart but on 5 min. time frame :) Not possible ?? Yes, its possible.. but we will discuss on this topic later in some other post.
CORRECTIONS and the ELLIOT COUNT:
In this chart I can see three major correction. Each one having a different topping pattern. The first correction has a Rising Wedge; the second has Triple Top and the ...
Rising Wedge pattern on DHFL and the price will fall after the breakout of pattern.
Trade:
Short below - 442
Target 1 - 427
Target 2 - 410
Stop loss - 461
Rising Wedge pattern on Granules India and the price will fall after taken out the pattern....
Trade:
Short - 132
Target 1 - 120
Target 2 - 106
Stop loss - 145
Rising Wedge pattern on Indian Bank and if the price break the pattern, it leads to hit 295.
Trade:
Short - 309
Target - 295
Stop loss - 317
Reward Points - 14
Risk Points - 8
It is been observed on the daily chart that the price action is breaking out from a rising wedge indicating a further bearishness and weakness ahead.
Target 1: 1500
Target 2: 1480
Stoploss: 1560
Enter the direction of breakout , usually rising wedges breakout to downside, but lets see. The advantage of anyside breakout trader and not guessing direction is , you can make money on anyside even if one side ( false break ) happens.
Rising Wedge Pattern formation on SRTRANSFIN and lead to fall once if broken the pattern. But MACD not clear bearish, seems bearish on bullish trend.
Trade:
Short below = 1057
Target 1 = 1044
Target 2 = 1032
Stop loss = 1067
Let me ask this first, How many of you are frustrated bcos of almost no movement in Nifty ?! Almost we are stagnating within 100 point range from Oct 19th. Intra's will be having chances here n there but positional ones will be irritated to the core bcos of no movement & no trade setup emerging out of Nifty.
B's Shopping Theory :
Am not sure about the exact ...
