Climax wedge : AARTI INDNSE:AARTIDRUGS had a steep slope, made a climax, will it make the falling wedge? It is just a chance that the falling wedge can occur. I will adjust the trendline after the second peak and trough.
Note - The Upside breakout after the falling wedge can be the steep upward rally.
Wedge
AU Bank takes support in the Rising WedgeAU Bank takes support in the Rising Wedge in the Weekly Time Frame
Good for Swing Trader
4 Times the Trend Line have been tested
Latest RSI have crossed the SMA RSI, so we can expect minimum 5 % in a week or two.
If the Global Condition is Neutral or Bullish, then we can expect the rise in price till the Top of the Wedge
if the Global condition is not in favor, then consider the Stop-loss as mentioned
BATAINDIA Rising Wedge Pattern BreakdownIn today's session, BATAINDIA gives breakdown of Rising Wedge pattern at 1795 level. After this breakdown expected downside target 1775 to 1730+ level in next few trading session according to chart pattern. Can short BATAINDIA below 1795 with stop loss of 1820 for this target.
Falling wedge in S&P 500 4H chartS&P 500 index futures has completed a falling wedge on 4H chart. Falling wedge is a reversal signal and indicates lack of strength in the bears. Hence, we may see price correct back to 50MA (red line) and the wedge high of 3739.
We will watch for price action as it touches the 50MA. If the price reverses and bears come back at 50MA, bullish bet would be called off. If not, bulls are strong and 3739 becomes a fair possibility.
SHORT AU BANK for target of probable 400Couple of things seen on Charts. Rising Wedge pattern on weekly and monthly charts. Also a failed breakout on daily charts.
Bearish divergence seen on weekly charts. Indicating sell at higher level. Be careful with this stock. Also same is seen with other Ultratech.
Shorting is risky option so wait for a solid confirmation to enter the stock is not resistant to interest rates hikes.
If rising wedge is followed then target of 400 can be seen. trade with strict Stop loss on weekly closing basis. Or just stay away.