Symmetrical Triangle Pattern With Full Tutorial
1. This is basically a Symmetrical Triangle Pattern. Where Resistance & Support Line tends to cross near future, which is also known as APEX point. Breakout can happen both the side e.g. ups and down. In this chart is it in upside breakout.
2. We've to measure the distance of price range. Which is between Resistance & Support Line, when pattern was developed and now that range paste on the breakout side for measure Profit Target.
3. That price range has been paste in this area now 721.60 is the initial profit target for this Symmetrical Triangle Pattern.
Triangleanalysis
Tata Power Possible Breakout on Hourly Time frame!Tata Power has been consolidating in a tight range on the 60 min chart as well as the daily chart. It has been consolidating in a symmetrical triangle range . Buyers are seeming to be strong , so it may show a good up move in the coming days. Track this stock closely!
Trident - Pennant Pattern, Highly bullishTrident is in Pennant Pattern with consolidation zone, so give an entry with appropriate Stop loss after the breakout from the zone
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout)
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
My trading style of Triangle patternThe above is the my style of looking into the opportunities in the triangle pattern. Only after good time spent on this pattern will make things easy for you to take this trades.
Always . .
Take a pattern, spend more time on it, when you get used to it, you will start fall in love with it, when you love it you know about it well !!! That's the magic.