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TATAPOWER

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
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
TATA POWER: Bullish TriangleBULLISH TRIANGLE : Usually this wave structure forms in an impulsive sequence as wave 4 . It consists of 5 sub waves as wave-a , wave-b , wave-c, wave-d and a final setback wave-e. Each of these waves consists of three wave internal structure. Each of the waves should not break their extreme points. The final confirmation to enter the position comes when the price gets close above the level of wave-d. The minimum target of the pattern is just a poke above the level of wave-b and just above the level of wave-3 of the impulsive count. There is also a guideline to predict the target of this pattern which is known as triangular thrust. The triangular thrust is the measurement of the distance from the level of wave-a to the level of wave-b . This measured length should be kept to the breakout level of wave-d to get the target of this pattern. Trading strategy: Buy on cmp and add on dips , maintain the sl of 120 & look for the tgt of 133-34 .
NSE:TATAPOWERLong
by TradingSutra
1
CASTROL 💧💧 - Quick Swing 8 % 🌱MACD crash alert Narrow range Check these Upcoming ideas - still active Check these successful trades & approach on HINDZINC , ITC , ADANIPORT SPL ,AIRTEL If you like my analysis do like & follow me as a token of appreciation. If you have any queries on any stock let me know. Leave a comment that is helpful or encouraging. Let's master the markets together Take trade as per the values given in Fibonacci. always trail the stop loss. Do your own analysis before taking trade
NSE:CASTROLINDLong
by thestockengineer