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Rising Wedge

GLENMARKGLENMARK:- Stock has given breakout, if you want to plan something then let the price come back to 620 then 621, do it after that, till then keep an eye on the stock Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:GLENMARKLong
by AjayDhakad_Keep_it_simple
4
#SIEMENS Rising wedge & hanging man formation Siemens on weekly timeframe is forming a rising wedge formation. It is also formed at the top of the rising channel in which Siemens has been trading from quite some time, generally such formation are formed as ED formation in EW and can be a signal of truncated 5th in its impulsive wave upmove. Although, this post doesn't deal in great detail with EW wave marking but an indicative wave counts are marked as well. Weekly chart is also showing a negative divergence and longs need to be cautious here as I have anticipated it earlier as well (link in related idea section) and since then it hasn't moved up much on upper side. On daily time frame, the script has formed a "Hanging Man", which is also a bearish reversal pattern and most importantly the candlestick pattern has appeared at ATH. Invalidation level for this pattern is any closing above the high of the hanging man candle and if price start sustaining below and closes below this candle, then it will be a confirmation of this pattern which can drag the price downside.
NSE:SIEMENSShort
by aktradelearning
BankNifty - Unveiling the Magic of Wave Analysis Near ATH-44151Introduction In the world of financial markets, technical analysis plays a crucial role in understanding market trends and making informed investment decisions. One powerful tool in this domain is wave analysis, which has proven its accuracy time and again. In a recent BankNifty analysis, wave analysis beautifully predicted the index's movements, providing traders with valuable insights. This article will delve into the fascinating details of this analysis, its striking coincidence with the actual market movements, and the subsequent implications for the BankNifty index. The Coincidence: Wave 5 and the All-Time High on short term Wave analysis involves identifying patterns and cycles within price movements. In the case of BankNifty, the wave analysis successfully anticipated the index's behavior, specifically focusing on the relationship between Wave 5 and the all-time high (ATH). Wave 5 is the final impulse wave in Elliott Wave Theory, representing the last leg of the uptrend. As per our last update **BankNifty's- Danger: Is this A Rising Wedge?– Time to Rethink** Astonishingly, the analysis predicted that Wave 5 would measure 62% of the distance covered by Wave 1-3, precisely at the level of 44085. The BankNifty index then surged slightly above the projected level, reaching 44151.70—a mere 0.10 points shy of the ATH at 44151.80. This near-perfect alignment with the projected level served as a testament to the accuracy of wave analysis. The Dark Cloud Cover Pattern: A Warning Signal Building upon the foundation of the initial analysis, the subsequent market movements confirmed the reliability of wave analysis. After hovering just below the ATH, a bearish candlestick pattern emerged, known as the Dark Cloud Cover on daily chart this week. This pattern consists of an opening above the previous day's high or close, followed by a price decline, closing below the midpoint of the prior candle. The Dark Cloud Cover, observed in the BankNifty index, provided a firm footing to the analysis, indicating that the index was likely to halt temporarily below the ATH of 44151.80. It acted as a warning signal for traders, highlighting the possibility of a reversal or consolidation in the index's upward trajectory. The Downside Move: A Potential Shift in Sentiment The subsequent session on May 17th witnessed a follow-up downside move, confirming the analysis's predictions. The BankNifty index slipped from 43950 to 43446, experiencing a significant fall of approximately 500 points. This downward movement hinted at a potential shift in sentiment, as market participants reevaluated their positions and adjusted to the prevailing conditions. However, it's important to note that the index bounced back from its lows and closed at 43748, indicating that the downside move might not be fully established yet. Traders and investors need to closely monitor future market developments to assess whether this downward momentum will continue or if a reversal could occur. The Road Ahead In conclusion, the recent BankNifty analysis using wave analysis techniques has showcased its effectiveness in predicting market movements. The coincidental alignment between Wave 5 and the ATH, followed by the emergence of the Dark Cloud Cover pattern and subsequent downside move, confirms the importance of technical analysis in navigating the financial markets. As the BankNifty index navigates these critical junctures, traders and investors should remain vigilant and adapt their strategies accordingly. The interplay between technical analysis, market sentiment, and fundamental factors will determine the index's future trajectory. Thanks for reading.
NSE:BANKNIFTY
by WaveTalks
6
BankNifty Tidal Wave- Ride or Crash? 15th May 2023Welcome back to another episode of Wave Talks. Bank Nifty's Tidal Wave -Ride or Crash: Index can face a significant shift with the unfolding ending diagonal. Will you ride the wave to profit or crash on the shore? Unfolding wedge pattern It's time to reconsider Bank Nifty's pattern as it poses a risk. Let us discuss in details price objective & outlook for next few weeks with key & critical levels for better risk management. Last Idea - BankNifty's Danger -Is this a rising wedge
NSE:BANKNIFTYShort
by WaveTalks
10
BankNifty's- Danger: Is this A Rising Wedge?– Time to RethinkEarlier in The Day - When Magical Level of 43350 Holds Ending diagonal Also known as an ending wedge, is a term used in the field of technical analysis to describe a specific chart pattern that signals the end of a trend or price movement. This pattern is characterized by converging trendlines that form a wedge shape and typically consists of five waves, with the third and fifth waves being smaller than the first and second waves. Rising wedges are bearish reversal patterns that often signal the end of an uptrend, leading to a decline in prices. Few classic examples from history where rising wedges have occurred, and financial instruments have collapsed: 1. The Dot-Com Bubble (2000): 2. The Global Financial Crisis (2007-2008): A rising wedge pattern emerged in the US housing market and various mortgage-backed securities leading up to the financial crisis. 3. The Crude Oil Crash (2014-2016): Crude oil prices experienced a sharp decline between 2014 and 2016 due to a combination of oversupply and weak demand. A rising wedge pattern was evident in crude oil prices before the crash. As a trader, it is essential to be cautious and aware of potential risks when trading financial instruments that exhibit rising wedge patterns. Some tips to keep in mind are: 1. Stay informed about market trends and technical analysis patterns to identify potential reversal signals, such as the rising wedge. 2. Keep track of economic data, news, and events that could impact the financial instrument you are trading. 3. Practice proper risk management by using stop-loss orders and position sizing to minimize potential losses. 4. Diversify your trading portfolio to reduce the impact of a single financial instrument's collapse. 5. Remain disciplined and follow your trading plan, ensuring that you do not give in to emotions like fear or greed. 16th March 2023 :Last idea - Truncated Pattern Are Really Explosive : BankNifty
NSE:BANKNIFTY
by WaveTalks
11
BANKNIFTY 15 min TF - Monthly Expiry - Rising WedgeLooking at the structure, I personally don't trust any further upmove for going long until it show some dip whether small or big. Especially when it has major resistances so close while moving upside Lets see it this affect NIFTY or not, because NIFTY also has 17900 and 18000 as major resistances trade with proper plan and risk management. Feel free to comment or message for any feedback on this chart or any other charts shared by me. thanks
NSE:BANKNIFTY
by TradewithAditya
Cummins - Rising Wedge & Evening Star - Weekly OverviewNSE:CUMMINSIND making rising wedge on weekly charts and also has formed a evening star candlestick pattern. With a SL of 1666, one can short for T1 of 1552 and T2 of 1518. Let's see how the story develops. Best wishes! Disclaimer - - The opinions expressed here are my own. This is for my own records as well as what I see on charts. - If you are referring to this, please keep in mind that it is only for educational and research purposes. - Past performance is no guarantee of future results. - You must accept responsibility for any decision you make. DO NOT TAKE THIS AS AN INVESTMENT RECOMMENDATION. - It's your hard-earned cash. Trade / Invest wisely, keeping in mind your trading style, goals and objectives, time horizon, and risk tolerance. - Before investing, conduct your own research and consult with a financial advisor. TIA!
NSE:CUMMINSINDShort
by nerdywasabi
2
Banknifty Analayis Banknifty after a extreme bullish view posted way back (link in related idea section) has achieved most of the upside targets. The current weekly candle is not looking promising which has also formed on the top line of pitchfork which I had drawn long back, On weekly charts it has made a rising wedge kind of pattern and it has also not retested the previous ATH breakout as such (41800). This level is also around 38% fibo retracement of current swing from Sept low to latest high. Some cool off in BN may be worth here ....
NSE:BANKNIFTYShort
by aktradelearning
1
Approach towards AUDUSD Short.Hello Traders! 1. We see an Elliotical rising wedge completed. 2. A clear impulse down . We can expect at least one more impulsive wave even if it happens to be a zigzag correction and not an impulse down. 3. A retracement of 61.8%. 4. The invalidation level and target levels have been marked on the chart . 5. This is not a very long term trade . Though, it is not expected for AUDUSD market to touch the invalidation level even after our trade is complete, we will still not go short further than Target 2 and wait for re-entry. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
Short
by UnknownUnicorn27677748