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Triangle Wave

Symmetrical triangle (coils) (continuation pattern) Prints when the market is indecisive. Price market higher lows & lower highs. It is the situation where supply and demand are near to equal. The trading range becomes smaller and smaller within the triangle. It represents a pause in the exhausting trend after which the original trend is resumed. 1) The minimum requirement for a triangle is four reversal points. Many have 6 point requirements but at least four points. 2) In a symmetrical triangle, we get apex where two converged trend line meets. Apex also works as a very important support & resistance. Sometimes a return move will occur back to the penetrated trend line after the breakout occurs. 3) Duration: A minimum duration of 3 weeks and it rarely exceeds 3 or 4 months long. (less than 3 weeks of duration likely to be a pennant formation, not a symmetrical triangle) 4) Volume: Narrow volume within the triangle. Very low before the breakout. 5) Breakout: Price closing below the lower rising trend line confirms the breakout or Price closing above the upper falling trend line confirms the breakout. The direction of the break in the pattern can only be confirmed after the break has happened. Either Up or Down. 6) Buy: Buy the Stock a day after Price closing above the upper falling Trend line. Sell: Sell or short the stock day after Prices closing below the lower rising Trend line. 7)Target: – The technical price target is to measure the widest distance of the symmetrical triangle, Add the distance to the upper trend line breakout price for a buy target or Subtract the distance from a lower trend line breakout price for obtaining a covering price. 8) SL: usually, price closing above falling upper trend line is a Sell stop loss or price closing below rising bottom trend line is a buying stop loss. But very often, the gap between breakout price and trend lines is very wide. Or Stop: "Symmetric triangle" failures occur when price results in false breakouts. Stop below the first major "swing low" below the trend line for a long setup. Place a "stop" order above the first major swing high from the trend line for a short-setup. 9) Alert: To receive a valid signal, a closing price has to be above the resistance line or below the support line. The more the price moves to the very end of a triangle, the weaker will be the breakout in either direction. 10) Symmetrical triangle has two merging trend lines. For this formation, at least two peaks and two valleys are necessary. To reduce false breakouts, investors should wait until there are either three peaks and two valleys or three valleys and two peaks. With this approach, however, it is possible to completely miss a trend, How to avoid fake outs? 1. 200 EMA confirmation 2. Use trail SL
NSE:SBINEducation
by Trade-Technique
5
SYNGENE | Read description for all details :)🔰 Hello my friends, here is the story I see behind this stock: ⭐Fibo: Retraced 50% in the near term swing high and swing low = bullish sign ⭐It's a triangle pattern here also if u see it carefully its kind of A big cup and handle type too :) ⭐Volumes: Today's volumes on 1hr are huge too ⭐Trade is possible only if it closes near the 610-620 LVL range :) ⭐Making higher highs and higher lows on 1hr too before this possible breakout ⭐Risk : Todays low ---- Target: Hold it until u see a reversal :) 🔰Am I taking this trade: No---Reason: Already in the trades of Naukri and PPL as posted last time :) 🔰 {Some info} ➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all. ➼I hope you will love my simple analysis style. ➼Feel free to suggest your view on this as learning is earning here :) ➼I take my trades on my Zerodha account :) ➼These charts are my and only my work, my thought process, just from an educational point of view and no calls. <<<<<>>>>>
NSE:SYNGENELong
by Averoy_Apoorv_Analysis
7
Nifty - Bounce & Collapse (Buy & Sell)Buy - Strictly Holding Above 14590 -14600 for 14765 (Target 1) & 14850 (Target 2) Sell - If Index pushes upside into the zone 14850-14900 zone & halts or stops with strict stops above 15000+ for downside 14590-14600 (Target 1) / 14260 (Target 2) / 14050 (Target 3) Happy Weekend -------------------------------------------------------------------------------------------------------------------------- Last Idea ----------------------------
NSE:NIFTY
by WaveTalks
20
DHANUKA AGRITECH Triangle BreakoutNSE:DHANUKA Levels are Mentioned in the chart... Look 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:DHANUKALong
by tradingrhythm1
ITC- Sideways Upside Bounce Expected 197 to 213Note-Pattern would need a review in between & does not guarantee that it will unfold as suggested- trader should manage his risk & trade Last Fall Below 209.50 to 202.10 ( Updated over the last idea- Holding above 202.10 expect bounce- which was short term & went to-205/206) --------------------------- Trading Strategy --------------------------- Plan- A Buy with stops below 197 & As close as possible in the range of 198-200 ( Buy Only if 197 Holds as support)- Target 1= 209.50 / Target 2 = 213/214 (Valid only above 209.50) Plan-B Sell with stops above 216 - Target 1 = 209.50 / Target 2 = 205-206 Plan-C Final Push Upside or Buy Holding above 200 for Target 1 = 209.50 / Target 2 = 215-216 / Target 3 = 235-240 ---------------------------------Careful -No Buying if Stock Falls Below 197--------------------------------- ----------------------------------------------------------- Last ITC Idea - Careful Below 209.50 -----------------------------------------------------------
NSE:ITC
by WaveTalks
6
Nifty - Heavyweight Reliance Cracks 7% - Will Nifty Crack Next?Last - 11635/b] Heavyweight Reliance Cracks 7% (2065 to 1897) on disappointing results as discussed in overnight idea @ 1st Nov2020 & the personality confirms that stock could be in wave-3 or wave-C which was warned earlier that below 2000 - stock can have trouble. ------------------------------------------------------------------------------------------------------------------------------ Most of the stocks discussed has witnessed good intraday fall ------------------------------------------------------------------------------------------- Tata steel - Fall from 411/413 zone to 400 Auropharma - running close to 750's ITC - Falling in desired direction of 157 with key support 165-167 zone USDINR- Halting close to 74.50 key level ----------------------------------------------------------------------------------------------------------------------------- Idea Published @ 1stNov2020 ---------------------------------------------------------------------------------------------------------------------------- Will Nifty Crack Next ? --------------------------------------------- Moves are choppy & possible new upside can be expected only above 11700 & later should cross 11745/11750 key levels. Failing to cross key levels, index can slip to 11550 / 11380-11420 zone Target 1- 11550 Target 2 - 11380-11420 Parallel channel drawn from lows of 7511 connecting 10790 (discussed in last night video idea) -extended upside can offer support in 11380-11420 with minor support close to 11550 level. Thanks
NSE:NIFTYShort
by WaveTalks
18