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Symmetrical Triangle

[Educational] Building Your Weekly Price Action WatchlistThis post helps you to understand how you can project any pattern formation in earlier stage. Also, It helps you to build your perfect weekly watchlist. Create Your Price Action Weekly Watchlist in Following Sections: 1) Early Stage Price Action(Waiting Phase) 2) Mid-Stage Price Action(Reversal Entry Phase) 3) Final Price Action(Breakout/Breakdown Entry Phase) Just spend few hours of your weekend and you don't required any screener to find perfect entry stock. You can build this watchlist according to your trading style. Timeframe to be consider: Intraday Positions: 5 Min, 15 Min, 1 Hour Short Term Positions: 1 Hour, 1 Day, 1 Week Long Term Positions: 1 Week, 1 Month
MEducation
by TradZoo
1
RIIL under a Symmetrical TriangleAs seen in the chart, RIIL is trading under a Symmetrical Triangle in the weekly time frame. Any of the two -> break out above the upper trendline or break down below the lower trend line should be considered for further direction of the price. Do Note: Break out or Break down will be considered as close price of a weekly candle. Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI registered. Please consult your financial advisor before taking any action.
NSE:RIIL
by kathanthakkar403
Finolex cables case studyFinolex Cable spot CMP : 455 Study :- Price action + chart patterns + Elliot wave Time Frame :- Daily There is Rising channel formation, currently price is around the demand line of long term structure, on smaller range of time frame there is formation of symmetrical triangle formation, which have demand line around current levels. so there are 2 structure formation as per chart patterns and both have demand levels around current levels. confluence of demand levels gives more confirmation of reversal. Counter have demand zone as per price action, which can be considered as a retest of previous break out levels, demand zone is marked on the chart which almost confluence with the demand levels of chart pattern structure. Elliot wave formation :- counter at present look to be in corrective wave 4 of impulse phase and is about to mature, if major wave 4 matures and major wave 5 unfolds for the demand zone reversal can be seen and much higher level possible as per calculation of major wave 5 maturity.
NSE:FINCABLES
by RUDRA007