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Symmetrical Triangle

ADANIENT : Swing trading opportunity!NSE:ADANIENT has given a breakout of symmetrical triangle pattern and currently retraced to its breakout level. The stock has also taken confluence of support from previous resistance level and Fibonacci 50% retracement level. The stock looks good at CMP with minimal stop loss and maximum reward. This is a little risky bet but looks good to me. If you notice the stock has also formed kind of W pattern. DISCLAIMER : This is not a call. The analysis shared is just for educational purpose. Please do your own analysis with proper risk management before taking your trade. Cheers! Happy Trading!
NSE:ADANIENTLong
by TheAspiringTrader
BSE Ltd : Swing Opportunity with good Risk Reward setup NSE:BSE look good to long at CMP. The stock after a good breakout from symmetrical triangle , has now retraced to the breakout level. Volume on the downside are very minimal as mentioned in the chart which implies there is no bearish pressure. The stock most probably will rally from here however the overall market should support. DISCLAIMER : This is not a call. The analysis shared is just for educational purpose. Please do your own analysis with proper risk management before taking your trade. Cheers! Happy Trading!
NSE:BSELong
by TheAspiringTrader
CAMS : Perfect Risk Reward Swing Setup!NSE:CAMS has broken out of symmetrical triangle pattern / cup and handle pattern with good volume. The stock has now retraced to the breakout level and looks good for further upside with minimal Risk and good Reward. One can enter at the current market price as the stock looks good in the short term. DISCLAIMER : This is not a call. The analysis shared is just for educational purpose. Please do your own analysis with proper risk management before taking your trade. Cheers! Happy Trading!
NSE:CAMSLong
by TheAspiringTrader
BREAKOUT OPPORTUNITY : BANKNIFTYAt this point of time , everybody is exhausted with the intraday volatility in nifty and bank nifty. But if we take a look at a slightly bigger picture then we can clearly see the formation of a symmetrical triangle in banknifty . This is a good opportunity for intraday and swing traders as good momentum on either side (short or long) can be achieved after the breakout of this triangle formation. Trade should only be initialized after we get closing of a candle breaking the trendline with power. The timeframe used above is 1hour. Proper use of trailing stoploss should be made as the markets may continue to remain volatile in the upcoming sessions as well. If the trendline is not broken with power then trade should not be in initialized. Good luck :)
NSE:BANKNIFTY
by Ankitkamble252
A SYMMETRICAL TRIANGLE TRAP VARIATIONTriangles are one of the best continuation patterns. They are normally seen in the middle of a trend as the price halts and rebuild energy to resume in the direction of prevailing trend. In this particular variation shown on the chart, the price breaks against the trend. It would look like as if the pattern is about to fail but the breakdown ends up in a trap. It traps most short sellers on the wrong side of the market at 6. The price then shoots up with strong momentum leaving no choice for the short sellers than to cover their positions. So instead of only breakout buyers at 7, the variation will also trigger buy orders of trapped short traders. Due to large number of buy orders at 7 the price shoots up pretty fast without any major pullbacks. Its always good to keep such a strong weapons in your quiver and strike whenever the opportunity knocks. It needs to be pointed here that the pattern will lose its worth as the price drifts closer to the Apex. As a rule of thumb, If the price is beyond 3/4th the length of the triangle, as shown on the chart, the pattern should be traded with caution. If the price has drifted up to the Apex, then ignore the pattern and move on to a next one. The target for the triangle should be the height of the triangle from 1 to 2. This length measured above 7 will give us the target. Ex. If the distance between 1 to 2 is 50 points and the breakout 7 happens at say 550, then target will be 550+50 = 600 (just an example). This is a conservative approach. Some trades would like to hold it and trail their stop loss until they get stopped out. It all depends upon one's trading style. I hope the post would catch your interest. Do like and comment for more educational ideas in future. Regards JJSingh
NSE:NIFTYEducation
by Bravetotrade
2
Symmetrical Triangle in INDUSIND BANKWe can see a formation of a symmetrical triangle in the INDUSIND BANK 4 hours timeframe chart. This setup looks good to me, an entry above 1045 for targets of 1120 and 1240 with a stop loss of 962. Here the risk-reward ratio is 1:2.35 for the final target of 1240. Also, it is taking good support from the 200 EMA, which is a positive sign for the bullish movement. We can see the final target within a time period of 1 to 2 months. It is just my analysis, if you go long you should do your analysis before entering.
NSE:INDUSINDBKLong
by tanishb09
RELIANCE SYMMETRICAL TRIANGLE FORMATIONA symmetrical triangle occurs when the up and down movements of an assets price are confined to a smaller and smaller area over time. A move up isn't quite as high as the last move up, and a move down doesn't quite reach as low as the last move down. The price moves are creating lower swing highs and lower swing lows. Connecting the swing highs with a trendline and the swing lows with a trendline create a symmetric triangle where the two trendlines are moving towards each other. A triangle can be drawn once two swing highs and two swing lows can be connected with a trendline. Since the price may move up and down in a triangle pattern several times, traders often wait for the price to form three swing highs or lows before drawing the trendlines. Applied in the real-world, most triangles can be drawn in slightly different ways. For example, figure one shows a number of ways various traders may have drawn a triangle pattern on this particular one-minute chart. The breakout strategy is to buy when the price of an asset moves above the upper trendline of a triangle, or short sell (sell the asset before it hits a lower price, intending to buy it back even lower) when the price of an asset drops below the lower trendline of the triangle. LEVELS MENTIONED ON CHART FOR THIS TRADE.
NSE:RELIANCE
by DalalStreetTrader
12