The triangle pattern is known as a bilateral pattern, which means that after a break-out the trend could either continue or reverse. There are basically 3 types of triangles and they all point to price being in consolidation: symmetrical (price is contained by 2 converging trend lines with a similar slope), ascending (price is contained by a horizontal trend line acting as resistance and an ascending trend line acting as support) and descending (price is contained by a horizontal trend line acting as support and a descending trend line acting as resistance).
The more price approaches the apex (where the trend lines converge), the bigger the chance of a break-out. The triangle pattern has completed when price breaks out of it, in either direction. Conservative traders may look for additional confirmation. The target can be estimated by measuring the height of the back of the triangle and extending it in the direction of the breakout. A common stop level lies just outside the triangle.
Buy above 1260 with the stop loss of 1245. Targets are 1275, 1290 and 1305. Sell below 1245 with the stop loss of 1260. Targets are 1230, 1215 and 1200. Click like & subscribe!
Note : Learning basics in trading wont make you rich. One should master the art of trading to make money from it.
Triangle Break Out.
Trail SL Once In Profit.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
the view is formed by studying various parameteres and thus i am holding a strong bullish view in the counter which may take it to the levels of even LT H in oming couple of days !
Price action is consolidating. Sell below 930 with the stop loss of 938. Targets are 922, 916 and 905. Buy above 944 with the stop loss of 936. Targets are 952, 960 and 968.
STRATBTC following Ascending Triangle
I have Mention the Buy and Sell Target on chart.
please check it and Follow it properly.
Remember one think if Ascending Support line break down then pattern
will be consider as fail pattern,then dont buy it.
Note: This is only for Educational Purpose this is not an Investment advice.
Please support the setup with your ...
