The Wedge pattern can either be a continuation pattern or a reversal pattern, depending on the type of wedge and the preceding trend. There are 2 types of wedges indicating price is in consolidation. The first is rising wedges where price is contained by 2 ascending trend lines that converge because the lower trend line is steeper than the upper trend line. In other words: the lows are climbing faster than the highs. These wedges tend to break downwards. The second is Falling wedges where price is contained by 2 descending trend lines that converge because the upper trend line is steeper than the lower trend line. In other words: the highs are falling faster than the lows. These wedges tend to break upwards.
Conservative traders may look for additional confirmation of price continuing in the direction of the breakout. The target can be estimated through the technique of measuring the height of the back of the wedge and extending it in the direction of the breakout. A common stop level is just outside the wedge on the opposite side of the breakout.
Morning star candlestick reversal pattern at the lower line of Broadening wedge is giving earlier sign of reversal of this down trending stock. RSI also coming back from the extreme oversold zone telling the buy, moreover the trade is available at small risk of one bar stop loss so one try his luck as under
Entry 276
SL 262
Target 311
RR Ratio ...
EXIDE made a sharp move today with 14 times the average volume(on daily timeframe) to reach the top of the wedge on weekly. Awaiting a breakout/reversal on account of results.
The pair moves as falling wedge pattern such that breakout might happen soon to go up here after
I predicts a chance of ripple will touch $6-$10 with in January 2019
Best time to buy now......!
KSCL Has broken down today on NSE with more than 4 times its average volume just below ichimoku cloud. which signals a sell.
Since markets are volatile, it would be good to enter sell position on KSCL around 480 with SL of 495 and Target of 455.
Recently the stock has a given a falling wedge breakout on the upside. CMP is 1029. Expecting to enter on pullback till 1020 if it happens. Else will go long above 1036 for a target of 1060.
Entry - Around 1020 zone if it pullsback or above 1036.
SL - 1009
T1 - 1045
T2 - 1052
T3 - 1060
For study purpose
Thanks.
ASIANPAINTS is making a rising in a wedge, respecting the trendlines. Currently testing the upper edge after a sharp ride the other day making lifetime highs. Awaiting a breakout/Reversal.
Stock has been moving in the Broadening Wedge boundaries making nice alternate touch. It has bounced from the lower boundary and retested it again today. RSI coming out of overbought zone. Ideally any closing above 309 should trigger a long trade however aggressive trader can buy the stock now for a target of 335.
Disclaimer : All ideas and comments are my ...
2B Reversal pattern formed as Bullish engulfing so it seems buyers are emerging at current level. One can buy the stock with SL of low of last bar for a target of above 40. Reasonable risk to reward ratio trade.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
Prices were moving in such a way that it has formed "Broadening Bottom" pattern. The pattern is perfect with alternate touches on both sides and it has given breakout today. Pattern trader can use the setup for their trading with price expectation of 575.
Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading ...
An inverted HS pattern has been formed inside a falling wedge. The stock has been consolidating inside a falling wedge pattern for the past month and finally has given a breakout. Now that the breakout is tested, We can go long above its swing high for a small scalp. It is also interesting to observe a Inverted HS pattern formed at this support juncture.
Hence ...
disclaimer.. no active trading.... no cryptocurrency in possession at present
not an investing/trading recommendation
this is accessory to the euro projection which i have done....
https://in.tradingview.com/chart/XBTEUR/g2dVc21j-A-Harmonic-projection/
