Triangle Breakout ITC->Formation of triangle pattern in the weekly chart.
->Support from previous resistance.
->Upside breakout.
->Target of 238.
Trianglebreaout
Intraday trade using Triangle and Channel pattern The script has given a breakout in the D time frame the last week with huge volumes and has consolidated since then.Check out my previous post on Aarti Industries as well.Now on checking the smaller time frames I found good consolidatory channel and triangle pattern.It could give a intraday breakout.So, the 15 min chart would be perfect.One could take a trade on closing basis above 1126 in the 15 min chart with targets of 1149 and 1185.My stop loss will be below 1102 on closing basis on the daily time frame.
Disclaimer: I have position in AARTIIND already from 935 levels (150 shares) and I have added more (50 shares) at 1106.I may further add small quantity on this breakout.
This post is for educational purpose only.Pls analyse and trade only if it falls as per your risk reward setup.
REDINGTON Triangle BreakoutNSE:REDINGTON just broke out of triangle and is poised for 10% upside. Triangle breakout is accompanied by huge volume. Red area is the Stop Loss area and Green one is the target.
JB CHEMICALSStock has been taking supports and resistance from this trend line from a long time.
Inverted Head and Shoulder in the making.
Triangle Breakout.
M&M Ready For BreakoutM&M is Ready for Breakout, You can do swing trading in it, its target stoploss has been given
CAKE/USDT - About to breakout!!Pancake swap about to breakout the ascending triangle.
Keep an eye!
Good swing trade opportunity on breakout + retest for more confirmation.
Naukri - Good to Go Long - Daily TFNSE:NAUKRI
Naukri / Daily Timeframe / Good to go Long @ CMP / Currently at support level / Target - 5800-6000
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!
#TLM/USDT CHART BREAKOUT COMING!!!Guys in this chart it is forming symmetrical triangle in 1D timeframe, if this breakout happens in upward direction than targets are $0.39 and $0.43 but if this breakout happens in downside than targets are $0.2272 and $0.1372. But guys according to me it will break upwards but for confirmation always wait for breakout.
HDFC (triangle and resistance zone breakout)looks Bullish, it has broken tringle pattern nd has been retested on a resistance zone, good for swing trade with an entry at 2669 stop loss 2526 and a target of 2876
KOTAKBANK LONG [Triangle Breakout]looks for for a positional trade , its been consolidation after breakout , will be good to enter above 1781 aim for target 1900 with a stoploss of 1720
Federal bank - Triangle pattern breakout🔴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
Comments
Bharti Airtel - Triangle Breakout - Weekly TimeframeBharti Airtel has given triangle breakout on weekly charts with descent volumes with fir RSI. Trading above 200/50 DMA
Target: 650
Timeframe: 4-6 Months
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!
APOLLO TYRES ON THE VERGE OF BREAKOUTThere is a Resistance Trendline which has to be broken to get the following targets.
T1-261
T2-288
Dharamsi Morarji Chemicals #DHARAMSI #StockMarket #StockToWatchDharamsi Morarji Chemicals---> Almost Debt Free
Consolidation in Triangle pattern
Good Volumes in Breakout
Look for Very Short term or Mid term Positional Bet
Enter at CMP for targets of 430+
Refer Chart for Entry Details.
=============================
Strict SL to be followed in Every Trade
Naukri - Reacted exactly as per our Analysis
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Godrej Properties - Clear Triangle breakoutGodrej Properties had a clear breakout from the descending triangle pattern, so give an entry with appropriate Stop loss
🔴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
