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Trianglebreak

Symmetric Triangle for RelianceReliance NSE:RELIANCE has grabbed the headlines quite a few times for the last year. The price action seems to be more in action. In the last 9 months, it has formed lower highs and higher lows, thus establishing a symmetric descending triangle. The average volume is also decreasing. (Calm before the storm) The prior trend is a rising trend. Thus, its expected for the price to breakout in the upside after the triangle apex is getting closed. On 29th May, there is a bull flag pattern formation, which could be exploited for short term swing gains. 6th July to 16th August marked the formation of an inverse head and shoulder pattern and that too subsequently broke out on the upside to touch 2200. After this the price is again consolidating, to breakout in the future. Breakout can be known only after they occur, but as the prior trend was an uptrend, we think that prices can breakout on the upside. (This is not a stock recommendation, this is just an analysis of the various Price action pattern with a real time example. Do your own due diligence before a stock purchase. Open to ideas and discussions on the same)
NSE:RELIANCELong
by Robert_Oppenheimer
VSTTILLERS Good breakout of Triangle NSE:VSTTILLERS Levels are Mentioned in the chart... Good for Swing... Note: 1. Views are personal. Recheck and take the trade as per your RR. 2. Always remember SL is your lifeline not the big target... 3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns... 3. Views given here is not a tip rather it is for educational purpose... After market opens, the condition might change so learn to handle for different conditions.. 4. To learn more about patterns, Psychology behind the trade and price action trading... contact us.. Thanks..
NSE:VSTTILLERSLong
by tradingrhythm1
What is a Symmetrical Triangle Pattern?The Symmetrical Triangle is usually a continuation pattern. It represents a pause in the existing uptrend after which the original uptrend gets resumes. A breakout from the upper trend line marks the continuation of an uptrend while a breakdown from the lower trend line marks the start of a new bearish trend . This pattern is also known as a wedge chart pattern. How does Symmetrical Triangle Pattern Work? Phase 1 : Existing Uptrend When there is an extreme demand in prices there is an uptrend. It continued as the demand increases. Phase 2 : Pause When demand is equal to supply the there is a pause in an uptrend and investors start to book profits here. As prices consolidate it forms converging trend lines . As there is equal demand and supply investors buy on the lower trend line and sell on the upper trend line . Which results in forming a Symmetrical Triangle Pattern . Phase 3 : Uptrend Continuation After demand matching the supplies when there is when buyers are again interested to buy demand increases. Which results in breakout! And the continuation of the uptrend. Role of Volume: Volume plays a major role in a symmetrical triangle pattern . When in an uptrend the volume is quite higher. In the second phase, the volume starts to diminish due to equal demand and supply. And again on the breakout, the volume surges. Volume with Breakout gives a good indication of a successful uptrend. Above Chart Explanation: This is a 4H chart of AXSUSDT we can see it's in an uptrend previously with good volumes. Now after successful uptrend prices consolidate with diminishing volumes. And after it, there is a breakout with above-average volumes. And then the uptrend continues. Conclusion: Symmetrical Triangle Pattern is a continuation pattern. Which on upper trend line breakout can give a potential bull move and when on lower trend line breakout gives a possible bear move. Comment your thoughts on Symmetrical Triangle Pattern down below. Disclaimer: This is just an educational post never trade just any pattern. And please do your research before making any trades. PS: We are again publishing this for our Indian audience. Happy Trading!
Education
by Coinlog
24
JSL - Intraday or Swing trade - Triangle breakoutStock Name: JSL Time Frame: 5 or 15 min Entry price: Once it breaks the triangle pattern. Stop loss: 153 ***** 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
NSE:JSLLong
by lokeshram