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Symmetrical Triangle

Trade Idea on SRF with Bird Eye View and Notes Following is the bird-eye view of SRF point-wise: 1 and 2) I see two patterns here on a Weekly time frame; 1 is a parallel channel, and 2 is a symmetrical triangle ( Note: Both can be bullish or bearish patterns depending on their previous more significant wave, here it was bullish ) ( Note 2: Currently sitting at the support of bottom parallel channel making a W pattern and sitting at bottom support of symmetrical pattern too ) 3) It's a Fibonacci extension, made for the consolidation zone - High and Low, For Futures higher Targets. 4) Steep CT: It's a steep counter-trendline breakout, giving us the probability of future upside potential 5 is the probable weekly time frame SL and 6a is probable Weekly time frame basis and pattern top basis Target 1, 6b and 6c are fibo ext target as taken from point 3
NSE:SRFLong
by Averoy_Apoorv_Analysis
Symmetrical Triangle and Parallel channel Multi Breakout Idea: I am using 1 D Time frame in Minda corp here Tools: Using the Fibo tool for retracement purposes ( as the stock went up fast so to a resistance level, so we need a retracement of at least 50-60% fibo for low risk trade else its fine for a risky trader to enter ( ofcourse at your own risk, take financial advisors advice too if needed ) Thought process: The stock 1st breakout was a fake-out as a hidden parallel channel was in action too at that time also, see the candle size too, it was small, now the candle size is more significant and bullish close too with good volume. Trade type: Activated as per my setup ( you do your analysis and find a good trade spot as per your setup too ) Target and Stoploss depend from person to person. General Target is the red supply zone ( also the top of the pattern ) Stop loss can be decided on your own at your own risk (it's a person's risk appetite tool ) Good luck
NSE:MINDACORPLong
by Averoy_Apoorv_Analysis
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