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Symmetrical Triangle

Tata Chemicals rangebound Tata chemicals has formed a beautiful symmetrical triangle pattern and requires traders to trade the range, buying at the lower trend line and selling at the higher. It has also formed a golden cross- When 50EMA passes 200EMA from below showing bullish nature. A break of the lower trend line will see an end to the trade, making it a risky one.. Hence we should position size in a smart way. What is position sizing? It is when you first add half your position to check If the market is saying you are right or wrong, if the market moves in your direction, you will add your second half and tighten your stop loss. This way you add two positions but one only when the market shows you that you are correct. Example: Suppose your risk is 100 per trade, You first buy enough Qt to risk only 50 ( Typically with a larger stop) and if the market forms a green candle or another bullish sign, you add another Qt to risk 50 more ( Total risk 100) and your second stop loss becomes tighter ( most probably at the breakeven of the first position) this way you minimise your loss but ur reward is the same and even more. If your first stop gets hit, you accept your mistake and move on. I would suggest to risk only half of what you normally risk on this trade since the risk to reward is very favourable with a small stop loss. Example- If you normally risk 1000 per trade, this time risk only 500 since the potential is the same reward with lesser risk making it a A+ set up. If a green candle or a bullish candle is formed at the trend line, we can add to more positions. Keep It Simple
NSE:TATACHEMLong
by Krish_Kohal
MANGALAM | INCOMING BREAKOUTMangalam Drugs has been attempting to break the 155 level, with its previous attempts getting rejected. But this time, with the solid foundation of a Double Bottom base, & a Symmetrical Triangle formed near the resistance zone, the chances of a successful breakout increases. Following points to note before initiating a Long trade: -------------------------------------------------------------------- 1. Price keeps getting rejected from a resistance zone around the 155 level. 2. This time, price breaks out of a Symmetrical triangle near the resistance zone 3. A double bottom base provides a good foundation towards the eventual breakout of the resistance zone Keeping the above points in mind, a long can be initiated as follows: Entry CMP SL 139 Targets of 1). 175.3, which is the Symmetrical triangle Pattern height, 2). 182.7 As always, keep your risk appetite mind before taking any trade. And always enter your SL first.
NSE:MANGALAMLong
by Divergent_trader
2
HITECH PIPES LTD. is gearing up for Breakout.Stock is accumulating in Symmetrical Triangular pattern in a daily time frame. After consolidation period of 9 months stock has firmed strong upward move with good volume and more likely to break its resistance. If we see RSI, it's also indicating a big momentum is on the way. We will wait till its trend line is broken, if it does and sustains above the Line that would be a trigger. BUY- 78.30 target- 88 Stoploss- 74.20 Caution This is a SmallCap company, that makes it more volatile, So do respect StopLoss. You can add it to your Watch List to understand price further. What do you think, do let me know in comment section.
NSE:HITECH
by BullishLine