Enter the direction of breakout , usually rising wedges breakout to downside, but lets see. The advantage of anyside breakout trader and not guessing direction is , you can make money on anyside even if one side ( false break ) happens.
Rising Wedge Pattern formation on SRTRANSFIN and lead to fall once if broken the pattern. But MACD not clear bearish, seems bearish on bullish trend. Trade: Short below = 1057 Target 1 = 1044 Target 2 = 1032 Stop loss = 1067
Hello Fellas, The pair is still ranging in 60 pips. there is no clear direction on the pair. A break above 1.0690 would trigger 1.0733 then 1.0766 & 1.0799. on the flip side next support lies at 1.0620,1.0600,1.0590. Trade at the breakout of the falling wedge & the resistance trend line & confirming it with the RSI & the Bollinger band. Note: Everything works...
NSE:CIPLA is at an important support tracing back to 2014. It's currently trying to overcome it and has a positive market structure with good trend strength. As you can see it is having 2 rising wedges forming, a smaller one inside the bigger one . Indicating a very good sign of bullishness. One should expect upside and look for long trade opportunities.
Symmetric Triangle on SBI and it may break either side. one more formation called falling wedge ( combine with orange and top yellow line but it will break on top ( bullish). Moreover SBIN currently lying on Strong support and statement - MAKE or BREAK Levels for Long: (Make) Level 1 - 259 Level 2 - 265 Level 3 - 273 Levels for Short: (Break) Level 1 -...
Rising Wedge on TCS and showing bearish trend on indicators. Trade: Short below - 2262 Target 1 - 2215 Target 2 - 2171 Stop loss - 2326 Reward Points = 91 Risk Points = 64
Let me ask this first, How many of you are frustrated bcos of almost no movement in Nifty ?! Almost we are stagnating within 100 point range from Oct 19th. Intra's will be having chances here n there but positional ones will be irritated to the core bcos of no movement & no trade setup emerging out of Nifty. B's Shopping Theory : Am not sure about the exact...
It is been observed that the price action is trending up in a channel on Daily chart. Now, on 30 Mins chart, it formed a wedge pattern or diagonal triangle and breaks out from that and moving further down. As per the Fibonacci estimation, I would target it to 38.2 % Fibonacci. Target: 372 Stoploss: 394
Trendlines and resistance are the simple tools we have used here in LT and if we get valid bearish confirmation in the zone enter shorts in LT with proper stops, if the price crosses above resistance zone, trade is invalid, No trades. Happy Trading !
It is been observed that the price action breaks through the preceding diagonal wedge and also trending up in a uptrend channel. It shall move further up from the current price action. It may also be consider a a long term investment from now onwards as it breaks monthly resistance levels of 341 today. Next Target: 365 Stoploss: 330 It is good to be back on...
IDBI on hourly timeframe has wedge pattern and price is near the lower trendline of wedge pattern and if you notice there is another wedge formation in 15mins. Initially I thought of posting this 60min wedge as positional trade and later converted it to intraday post bcos of Inner wedge. So Intraday traders can trade the inner wedge's direction of breakout and if...