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Symmetrical Triangle

Hdfc ltd conditional trade...Hdfc Ltd spot cmp 2500 Time frame :- Daily Study : Elliot wave Wave 1 :- Wave 1 is first impulse wave of impulse phase,, in this case study first wave consist of 470 points in terms of points and 32% in terms of percentage,, first wave is generally of no confidence movement,, buyers still dont have confidence that the trend will change and the upside impulse move will start,, so it spends time in that reversal zone. Wave 2 :- wave 2 is first corrective wave of impulse phase, in this case study second wave consist of 325 points and have retraced around 78.6% of wave 1,, general rule as per theory is wave 2 retraces around 50 to 88.6% of wave 1,, the retracement of wave 2 is sharp in nature and are of very short period,, and wave 2 low can not be below the low point of the start of the impulse phase.. Wave 3 :- wave 3 is second impulse wave of impulse phase,, in this case study third wave consist of 1268 points in terms of points and 78% in terms of percentage,, 3rd wave is longest and strongest wave of impulse phase,, once price breaks out above high price of wave 1 traders jumps into the trade and wave 3 is extended wave of wave one,, it can extend from 1.618% to 3.618% of wave 1 in both terms of points and in terms of percentage,, in this case wave 3 have extended around 2.618% of wave 1 in terms of price and percentage.. wave 3 also consist of minor impulse phase which is shown as part wave of 1-2-3-4-5 of wave 3. Wave 4 :- wave 4 is second corrective wave of impulse phase, in this case study forth wave consist of 542 points and have retraced around 38.2% of wave 3,, general rule as per theory is wave 4 retraces around 23.6% to 50% of wave 3,, the retracement of wave is slow and in zig zag manner,, generally triangles and flats,, and are time consuming,, and wave 4 can not go below the peak levels of wave 1,, in this case study wave 4 is in form of symmetrical triangle,, descending triangle and on smaller time frame last leg have bullish wolf wave formation,, Wave 5 :- Wave 5 is third and final impulse wave of impulse phase, in this case study we are pre assuming the wave 4 have matured and wave 5 will unfold from this levels,, reason for the same is breakout from symmetrical triangle formation of wave 4 , breakout from wolf wave on smaller internal wave formed in wave 4,,bullish divergence in RSI indicator,, MACD on verge to give positive cross over and breakout from falling trend line,, this all are consideration for wave 5 to unfold,, now wave 5 are ephoric in nature, move are in form of parabolic steep and in rising wedge formation,, wave 5 are equivalent to wave one and are 61.8% of wave 3,, if we go as per this calculation wave 5 can end around 3110 to 3190,, as per price action breakout of symmetrical triangle gives same amount of move after breakout that will lead to 3110,, now as per wave 1 in terms of points wave 5 will be of 480 points than counter may head towards 2840 levels,, and as per % terms of wave 1 move of 32% would lead counter to levels of 3190,, which also coincides with 61.8% of wave 3,, Much more can be included in this but will not be able to do so,, Note :- personally holding this counter from 2400 levels.. Good bullish formation..
HLong
by RUDRA007
Kotak Bank (symmetrical triangle pattern) LONGAs you all can see there is a symmetrical triangle pattern forming in Kotak bank which can lead to a break out on either side but as you can see that 1626 recently acted as a strong support and it has taken support on the trend lines down side 4 times and upside trend line it has acted as restitance 4 times , so if it break above 1730 we can see a strong breakout in Kotak Bank in august expiry , else if it acts as resistance again it will retest the support of the trendlines again , so keeping stop loss as 1625 and first target as 1730 and if it breaks we can again test the ATH ;). Hope it was helpful for some of you :) Note: The above is strictly my view and not a trade recommendation. Consult your financial advisor before making any trade. This is completely for educational purpose
NSE:KOTAKBANKLong
by krishnakrizz07
3
Nifty auto spot good long candidateNifty auto spot cmp 10000. Study :- Time Cycle, Wolf wave, Harmonic , Chart Pattern. Time Frame :- Daily. Time Cycle :- Bottom to bottom cycle of 74 TD indicate index is making bottom at interval of 74 TD and at the moment index is at 74 TD so if this cycle is matured and the next cycle unfolds we may see a change in trend from now onwards as per this cyclic nature,,, as per peak to peak cycle index might see upmove till first week of october.. Wolf wave :- At the moment index is trading in 5th wave of wolf wave formtation,, if wave 5 mature around this levels and reversal is seen in index from current levels,, than new bull run can be seen in this index and may give out performance now onwards,,, Hidden bullish divergence in RSI indicator gives support for reversal in trend,, Harmonic study :- Deep crab formation is observed as per retracement of last 2 swing ,, this can be pre assumption for the harmonic pattern ,, but if index manage to reverse from this levels , than would lead to formation of deep crab which have maturity point at much higher levels.. Chart Pattern :- Symmetrical triangle pattern,, index is trading around demand zone of triangle formation,, with divergence in indicators,, if managed to sustain above the demand line can give good reversal from current levels,, main trend can only be predicted once index gives breakout on either side of the triangel formation.. Good bullish formation observed in this index,, can start a fresh bull run....
NSE:CNXAUTOLong
by RUDRA007
2
Cup forming on Kotak bank Chart Analysis:- On hourly TF of Kotak Bank we can see that Stock is making two patterns – Symmetrical Triangle and Cup - where Triangle is already formed but cup is yet to be form. As we know symmetrical triangle is bullish pattern and cup is forming so after a triangle breakout with a good volume we’ll see our expected targets and we can also take a help of indicators to confirmation of trade. • RSI is at 55 levels and also taking support on trendline. • On DMI DI+ line is crossing DI- line and approaching upward ADX line is below 20 which shows low momentum in stock right now but it will also support after Triangle breakout. • Bollinger bands is also giving Bullish signal stock is taking support on 20 EMA line. Entry point- 1756 - 1760 Targets • 1770 • 1783 • 1809 Stoploss – • 1727 Disclaimer - I am not SEBI registered analyst and I can be 100% wrong so do your own due diligence and consult with your financial advisor before investing.
NSE:KOTAKBANKLong
by sakshamjais1
TATAPOWER Symmetrical Triangle Formation The Symmetrical Triangle Chart Pattern indicates an ongoing period of price consolidation before the prices breakout. A bullish symmetrical triangle is a bullish continuation chart pattern, the movement preceding the triangle’s formation must be bullish. On the other hand, A bearish symmetrical triangle is a bearish continuation chart pattern, the movement preceding the triangle’s formation must be bearish. The symmetrical triangle pattern is different from a descending or ascending triangle pattern as both triangles’ lower and upper trend lines slope towards the center point. A horizontal upper trendline is formed in ascending triangles that predict a higher breakout. With a descending triangle, a horizontal lower trendline is formed that predicts a lower breakout. Please like the post.
NSE:TATAPOWER
by Reno2712