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Symmetrical Triangle

Formation of Symmetrical Triangle Pattern in BRITANNIAIn BRITANNIA, We seen a fine symmetrical triangle pattern formation. Currently it's forming its 3rd wave of this pattern. Expected it will complete its final wave in first week of august month. 1) Current Stage Position(Long Trade): Currently this trading near support level and expected it will take this support and take reversal towards the resistance trend line and form its 3rd wave. Expected this process take 10-15 days. So we can take long position at this level with stop loss below the support trend line and target is resistance trend line. According to pattern projected initial target in between 3620-3630. 2) Near Resistance Position(Long/Short Trade): Once BRITANNIA complete its 3rd wave there will be 2 possible trading situation occurs. First one is for long position after breakout and another is short if reversal. According to previous trend more chances it will give reversal from It's resistance level so we can take short position on reversal with stop loss above resistance trend line for target of support line. If this reversal happened more chances it will give breakdown of support trend line also and go for further target downside of 2950-. On a same level We can't ignore breakout situation. In same time period there have earning release of BRITANNIA so this fundamental trigger also impact on the behaviour of stock near its resistance level. Thank You, TradZoo Team
NSE:BRITANNIA
by TradZoo
1
Late night Technical analysis talk Follow me on trading view : in.tradingview.com This is a series where we discuss stocks recommended by you guys: Just comment on the fav stock you want analysis on or DM me ;) 👑 Terms used if you don't know : ✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa until one of them wins ✣ Structure and trend: Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a trader's success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows ✣Breakout: Breakouts are commonly associated with ranges or other chart patterns, including triangles( HERE WE WILL SEE THIS ONE ), flags, wedges , and head-and-shoulders. These patterns are formed when the price moves in a specific way which results in well-defined support and/or resistance levels. Traders then watch these levels for breakouts ✣ RSI DIVERGENCE: A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position. ✣ Supply/ Demand: In the supply zone , the prices are higher than the bid price, and in the demand zone , they are lower. The bid price is what a trader is willing to pay for a stock 👑 Important levels - explained well 👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :) ⌛ Motivational and psychological area ⌛ ✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only. ✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow ✣Don't lose hope and keep grinding ✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily. ✣Focus on the process, you are here to make money not stupid decisions and lose it all ✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market. ✣Believe in yourself :) 🎓🎓 Some info about me :) ➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all. ➼I hope you will love my simple analysis style. ➼Feel free to suggest your view on this as learning is earning here :) ➼I take my trades on my Zerodha account :) ➼I don't take all the trades I post ➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
NSE:GRANULESLong
by Averoy_Apoorv_Analysis
14
Symmetrical Triangle Pattern in TATAPOWER MUST WATCH Learning Triangle Pattern educational Purpose, An IDEA CAN LIGHT your BRAIN Tublelight The triangle chart pattern is formed by drawing two converging trend lines as price temporarily moves in a sideways direction. Traders often look for a subsequent breakout, in the direction of the preceding trend, as a signal to enter a trade. Learn Difference between Symmetrical Triangle Pattern and Other Triangle Pattern: The difference between the symmetrical and the other triangle patterns is that the symmetrical triangle is a neutral pattern and does not advice in any direction. While the triangle itself is neutral, it still favors the direction of the existing trend and traders look for breakouts in the direction of the trend. Symmetrical triangle trading strategy Triangles provide an effective measuring technique for trading the breakout, and this technique can be adapted and applied to the other variations as well. Its important to note that finding the perfect symmetrical triangle is extremely rare and that traders should not be too hasty to invalidate imperfect patterns. Traders ought to understand that triangle analysis is less about finding the perfect pattern and more about understanding what the market is communicating, through price action. TRADING WITH TRIANGLE PATTERNS: KEY THINGS TO REMEMBER Always be remember of the direction of the trend prior to the consolidation period. Make use of upper and lower trendlines to help to identify which triangle pattern is being formed. Use the measuring technique to decide achievable target levels Stick to sound risk management practices to mitigate the risk of a false breakout and ensure a positive risk to reward ratio is maintained on all trades. mcpriceaction
NSE:TATAPOWER
by mcpriceaction
SUNTECK REALTY - Probable Up Move1. NIFTY Realty sector has given a 10 year breakout after an unsuccessful attempt in 2018 2. Sunteck Realty has formed a SYMMETRICAL TRIANGLE pattern on a weekly chart since Jan 2020 3. High volumes during pattern formation shows accumulation 4. Indicators showing momentum and uptrend 5. Probable entry would be at the breakout from the pattern 6. Half quantity at the breakout and half after retesting the support can be one strategy to enter the trade 7. The pattern height is 200 points - So, target can be 200 points from the point of breakout Risk:Reward = 1:4.5 Entry: 360-365 Target: 560 (Sorry! I miscalculated on the chart as 150 points at 515 but its 200 points) Resistances at 390 and 450 SL: 330 Time period: Mid term Disclaimer: The above is NOT a buy/sell recommendation. Only for educational purpose. Kindly do your analysis before taking any trade.
NSE:SUNTECKLong
by sacban89
Symmetrical Triangle in NTPC.A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope. 1. Symmetrical triangles occur when a security's price is consolidating in a way that generates two converging trend lines with similar slopes. 2. The breakout or breakdown targets for a symmetrical triangle is equal to the distance between the initial high and low applied to the breakout or breakdown point. 3. Many traders use symmetrical triangles in conjunction with other forms of technical analysis that act as a confirmation. The price target for a breakout or breakdown from a symmetrical triangle is equal to the distance from the high and low of the earliest part of the pattern applied to the breakout price point. The stop-loss for the symmetrical triangle pattern is often just below the breakout point.
NSE:NTPCEducation
by Tradeception_
18
Want 30% mover then watch this 10min video - Analysis made easy👑 Drop a follow here: @Averoy_Apoorv_Analysis 👑 ----------------------- 🔥🔥 Target: 2000 Followers 🔥🔥 👑 ITs a very good analysis video as I will try to trade this in realtime with you guys of course risk is diff for diff people but trading quality matters, not quantity :) Good luck keep it in your watch now ⌛ Motivational and psychological area ⌛ ✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only. ✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow ✣Don't lose hope and keep grinding ✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily. ✣Focus on the process, you are here to make money not stupid decisions and lose it all ✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market. ✣Believe in yourself :) 🎓🎓 Some info about me :) ➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all. ➼I hope you will love my simple analysis style. ➼Feel free to suggest your view on this as learning is earning here :) ➼I take my trades on my Zerodha account :) ➼I don't take all the trades I post ➼These charts are my and only my work, my thought process, just from an educational point of view and no calls. ☃☃☃☃ Thank You Have a Nice Trading Day ☃☃☃☃
SLong
by Averoy_Apoorv_Analysis
11