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TATAPOWER

TATA POWER: Nearing Triangle breakout with good technical.NSE:TATAPOWER The stock trend is bullish with little pullback due to global sell off on 19-20th July, 2021. Technicals looking good with symmetrical triangles forming with low volumes- Good sign for breakout. RSI is moving into a demand zone. Targets: 132, 142 SL: 116 Maybe considered for short plays. Disclaimer: This is NOT an investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
NSE:TATAPOWERLong
by bikrantaG
3
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