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A Comprehensive Guide to Descending Triangle.NSE:AMBUJACEM A reliable bearish trend continuation pattern is known as Descending Triangle. This post will cover these questions: 1. What is Descending pattern? 2. How to identify Descending Triangle? 3. Pre-requisite of pattern formation. 4. Trading Tactics. 1.What is Descending pattern? #The descending triangle is a bearish formation that usually forms a continuation pattern during a downtrend. #Descending triangles also sometimes function as reversal patterns at the end of an up trend, but typically they are continuation patterns. #Descending triangles are bearish in nature. The descending triangle pattern here indicates that the buyers are not as aggressive as the sellers, so the price continues to generate lower highs. This shows that the demand for related security is falling. 2. How to identify Descending Triangle? (a.) Drawing trendlines. The bottom horizontal line (support line) is formed by two or more almost equal price lows, while the descending trend line (resistance line) is formed by two or more declining highs. (b.) what are Base and apex? -The base is the vertical line drawn from the flat support trendline to the starting point (Resistance line) of the descending trend. -The point at which both converging lines meet is called the apex point. -The breakout should happen around 2/3 size of the whole pattern. 3. Pre-requisite of pattern formation. (a.) Existence of prior trend. It is very important to identify the previous trend, an established prior trend should exist cause it's a continuation pattern. look for the pattern in a downtrend with a forecast of breakdown from the horizontal line. (b.)Volume pattern While the pattern is forming the volume diminishes. volume declines as the pattern develop and the price swings back and forth between an increasingly narrow range of lower highs and similar lows. However, there is a noticeable expansion in volume when the downside break occurs. (c.) Retracement Moves. The chances of a retracement move are very less in this pattern. After the breakout the price can move again towards the breakdown zone to test the validity of the breakout, on breakout the support is broken and when the price retraces the support becomes resistance and the price start moving in the breakout direction. 4. Trading Tactics. The entry will be below the support level and use protective stop loss above important resistance level, or it can be above 50% of pattern range. Minimum Take profit is the projected Base Line. Use position sizing according to your stoploss level. Like this idea if you find it useful and please share with your friends. Keep learning, Happy trading. Thankyou.
NSE:AMBUJACEMEducation
by SANJAYPATIDAR_
4
Infy: Chart set up and trading viewInfy - the stock is managing to hold on to gap zone levels - important support levels 1480 / 1444 / 1433 - 20 day EMA and 63 day EMA at 1562 and 1545 respectively Given the setup, one may consider to sell Infy January expiry 1460 Put option The strategy has a profit potential of 10% on Margin requirement and provides protection for a fall up to 1437.5 odd levels ( covering most of the known risk on charts) Do let me know if you find the analysis and insights helpful. Like and Follow for more ideas like these...!!! Take care & safe trading...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - I have been wrong in the past and can be wrong again in future too - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:INFY
by indiamarketoutlook
BHARAT FORGE - TREND CONTINUATION PATTERN GUIDENSE:BHARATFORG What is trend continuation ? Trend continuation means when we are in uptrend and witness a healthy correction most likely sideways movement in a channel and it breaks the correction sideways zone with big momentum candles then it might be signaling a strong new up trend starting. #so lets see how we can play with trend continuation on a live setup in Bharat forge. Whats happening in Bharat forge? *Used Bar chart on a weekly Timeframe. There are confluence of factors that are signaling this setup. Lets identify them one by one 1. Prior trend :- The most important thing one should confirm is the existance of previous trend, cause if there is no identifiable previous trend then how can the price form a trend continuation pattern. As in bharat forge there is a good bullish prior up trend. * on chart marked as Major up trend. 2.Correction:- The Stock should give a opposite move in the trend with low volumes and the range of movement should be narrow. the tighter the range the better it is. This correction should not break any major lows in the previous up trend. As in Bharat forge the corection is in form of channel and its on low volumes. 3.Confirmation signals:- some basic confirmation signals are (a.) Strong breakouts on small time-frame (b.) Volume picking up. (c.) Big momentum candels. As in Bharat forge formed a strong resistance at 850, the price is unable to break this level from last 1 year in 3 attempts. on 31-10-2022 it formed a Ranging candle and created a rally base rally power pattern and move above 850 can give a strong break out for a positional target of 1000+ One can hold with a stop loss of 789 and do trail the stoploss with favorable movement. Hope you like this Idea. please like and comment. Thanks for reading. Keep learning, Happy trading.
NSE:BHARATFORGLong
by SANJAYPATIDAR_
Right direction is more important than speedHello Friends, Hope you are doing well, Today I am sharing a very little and simple fact, which is very much needed to survive long life in market and to be a profitable trader in market, here we are talking about direction and speed because, when you’re heading towards right direction, every single step you take is real progress, but if you’re going in the wrong direction, every single step is pushing us in minus. Direction can be decided by analyzing charts and Speed (position sizing) is decided as per money management rules, One should always digest the initial level first, where he is, and also where he reaches next, one can only survive in market until capital is wiped out, so always remember, to save capital from losses is also gain. The journey of a thousand miles begins with one single step, make sure that first step is in the right direction. When making important decisions that have long-term implications like financial decisions, slow down and check carefully risk reward ratios and money management rules and carefully evaluate your available options before starting or executing it. This post is just for educational purpose, See you all next week. 🙂 RK 💕 Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses.
NSEIX:NIFTY1!Education
by RK_Chaarts
1
GOCL Corporation Limited GOCLCORP:- Stock is trying its best to give breakout for 1 year but after touching resistance it comes back down, consolidating in small range from last 1 month, may give breakout very soon... Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:GOCLCORPLong
by AjayDhakad_Keep_it_simple
Bannari Amman Sugars LimitedBANARISUG:- The stock has formed a head and shoulders pattern and has given a breakout and is moving back upside after retesting. Keep an eye on it. Hello traders, As always, simple and neat charts so everyone can understand and not make it too complicated. rest details mentioned in the chart. will be posting more such ideas like this. Until that, like share and follow :) check my other ideas to get to know about all the successful trades based on price action. Thanks, Ajay. keep learning and keep earning.
NSE:BANARISUGLong
by AjayDhakad_Keep_it_simple