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Symmetrical Triangle

Tata Chemicals - Symmetrical Triangle Breakout A symmetrical triangle is a consolidation pattern. It is often referred to as a Coil Pattern. Here each price fluctuation is smaller than its predecessor. Lower Highs & Higher Lows. The process of contraction or coiling also has an effect on the volume. Imagine a coil spring, the more you keep pressing down the coil spring , it keeps going down but once the force is released the coil spring moves violently. This is exactly the same happening here in a symmetrical triangle. CMP 1058 Can Head Towards 1150+
NSE:TATACHEMLong
by archittaori1471
ACCELYA may reverse it's downtrend.ACCELYA Solutions Ltd. A small cap IT company catering to Airlines & Tourism Industry. Toady it came up up with good quarterly results. Stock has been in a short-term downtrend. Now price has reached it's weekly support trendline. Also if we go back to MAY-JUNE 2021, we can see huge volume around this price. In daily time frame stock has formed a pattern similar to double bottom. On hourly chart symmetrical triangle has formed and price is inching towards narrower range. On 15 minute chart in the last trading session, we have seen a buying with volume. Considering all these factors, I believe that smart money is interested in this stock around this level. Long term investors and swing traders can keep this chart on radar.
NSE:ACCELYALong
by sumedhb100
Symmetric Triangle PatternROUTE MOBILES. Symmetric Triangle Pattern Formation with +VE Breakout Took Placeat CMPThe symmetrical triangle, which can also be referred to as a coil, usually forms during a trend as a continuation pattern. The pattern contains at least two lower highs and two higher lows. When these points are connected, the lines converge as they are extended and the symmetrical triangle takes shape. You could also think of it as a contracting wedge, wide at the beginning and narrowing over time. Price Target: There are two methods to estimate the extent of the move after the breakout. First, the widest distance of the symmetrical triangle can be measured and applied to the breakout point. Second, a trend line can be drawn parallel to the pattern's trend line that slopes (up or down) in the direction of the break. The extension of this line will mark a potential breakout target.
NSE:ROUTELong
by sumangalroofings
1
TATA MOTORSTata motors triangle pattern getting developed. if broken above then expecting a bullish move. chart for educational purpose only, take position only after confirming from your side. Tata motors triangle pattern getting developed. if broken above then expecting a bullish move. chart for educational purpose only, take position only after confirming from your side.Tata motors triangle pattern getting developed. if broken above then expecting a bullish move. chart for educational purpose only, take position only after confirming from your side.
NSE:TATAMOTORS
by rzwn07
Cup and Handle breakout in DeepakfertIn a daily chart there is already cup and handle breakout on 13 jan 2022 at 480 and target was 920 after the breakout Stock was going in a sideways and formed symmetric triangle pattern. So Recently there is a breakout in symmetric triangle supporting uptrend. After the breakout it achieved 2 target(Previous Swing High) and on 13th April is broke its all time high 660 and formed new high 676 which is again supporting symmetric triangle breakout target 761. In future it may reach its Cup and handle pattern target 920. From the breakout (@480) it already achieved 44.5% Price target. Enter from here should be very cautious. Based on your risk capacity and own analysis invest in this stock and Very important its purely technical call not a fundamental call because company is having 92.8% pledge, however FII share holding increased and company is showing better performance in last quarter. So consider fundamentals also for this stock.
NSE:DEEPAKFERTLong
by varun_devadiga
Symmetrical Triangle on NTPCWhich way it will break? After a long uptrend price is consolidating making lower highs and higher lows, which shows that buyers and sellers are neutral and are not able to make a decision. Its been six months since the consolidation started, we know that consolidation which takes time gives strong breakout. Lets see which side it chooses to move, as it is above 200 EMA i am thinking it will move upwards, what do you think comment down below.
NSE:NTPC
by anuragsahu614
2
SIEMENS: SYMMETRICAL TRIANGLETrading strategy: Buy with SL of 2240 and look for the target of 2600/2700. later on the measured target . Theory: The symmetrical triangle, which can also be referred to as a coil, usually forms during a trend as a continuation pattern. The pattern contains at least two lower highs and two higher lows. When these points are connected, the lines converge as they are extended and the symmetrical triangle takes shape. You could also think of it as a contracting wedge, wide at the beginning and narrowing over time. Trend: In order to qualify as a continuation pattern, an established trend (at least a few months old) should exist. The symmetrical triangle marks a consolidation period before continuing after the breakout. Four (4) Points: At least 2 points are required to form a trend line and 2 trend lines are required to form a symmetrical triangle. Therefore, a minimum of 4 points are required to begin considering a formation as a symmetrical triangle. The second high (2) should be lower than the first (1) and the upper line should slope down. The second low (2) should be higher than the first (1) and the lower line should slope up. Ideally, the pattern will form with 6 points (3 on each side) before a breakout occurs. Volume: As the symmetrical triangle extends and the trading range contracts, volume should start to diminish. This refers to the quiet before the storm, or the tightening consolidation before the breakout. Duration: The symmetrical triangle can extend for a few weeks or many months. If the pattern is less than 3 weeks, it is usually considered a pennant. Typically, the time duration is about 3 months. Breakout Timeframe: The ideal breakout point occurs 1/2 to 3/4 of the way through the pattern's development or time-span. The time-span of the pattern can be measured from the apex (convergence of upper and lower lines) back to the beginning of the lower trend line (base). A break before the 1/2 way point might be premature and a break too close to the apex may be insignificant. After all, as the apex approaches, a breakout must occur sometime. Breakout Direction: The future direction of the breakout can only be determined after the break has occurred. Sounds obvious enough, but attempting to guess the direction of the breakout can be dangerous. Even though a continuation pattern is supposed to breakout in the direction of the long-term trend, this is not always the case. Breakout Confirmation: A break should be on a closing basis for it to be considered valid. Some traders apply a price (3% break) or time (sustained for 3 days) filter to confirm validity. The breakout should occur with an expansion in volume, especially on upside breakouts. Return to Apex: After the breakout (up or down), the apex can turn into future support or resistance. The price sometimes returns to the apex or a support/resistance level around the breakout before resuming in the direction of the breakout. Price Target: There are two methods to estimate the extent of the move after the breakout. First, the widest distance of the symmetrical triangle can be measured and applied to the breakout point. Second, a trend line can be drawn parallel to the pattern's trend line that slopes (up or down) in the direction of the break. The extension of this line will mark a potential breakout target.
NSE:SIEMENSLong
by TradingSutra