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RainRead About WEDGE PATTERN WHAT IS A FALLING WEDGE PATTERN? The falling wedge pattern is a continuation pattern formed when price bounces between two downward sloping, converging trendlines. It is considered a bullish chart formation but can indicate both reversal and continuation patterns – depending on where it appears in the trend. HOW TO IDENTIFY A FALLING WEDGE PATTERN The falling wedge pattern is interpreted as both a bullish continuation and bullish reversal pattern which gives rise to some confusion in the identification of the pattern. Both scenarios contain different market conditions which must be taken into consideration. The differentiating factor that separates the continuation and reversal pattern is the direction of the trend when the falling wedge appears. A falling wedge is a continuation pattern if it appears in an uptrend and is a reversal pattern when it appears in a downtrend. Continuation or (Reversal) Pattern: Identify an uptrend or (downtrend) Link lower highs and lower lows using a trend line. The two lines will slope downwards and converge Look for divergence between price and an oscillator like the RSI or stochastic indicator Oversold signal can be confirmed by other technical tools like oscillators Look for break above resistance for a long entry The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout occurs. While this article will focus on the falling wedge as a reversal pattern, it can also fit into the continuation category. As a continuation pattern, the falling wedge will still slope down, but the slope will be against the prevailing uptrend. As a reversal pattern, the falling wedge slopes down and with the prevailing trend. Regardless of the type (reversal or continuation), falling wedges are regarded as bullish patterns. #Watchlist #RAIN (D):-CMP 191.35 Looks Good For More Upsides :) #Disclaimer:-View shared is for educational purposes only. Conduct your due diligence before making any trading or investment decisions. #StockToWatch
NSE:RAINLong
by Charts_insiders
3
BankNifty weekly1.global sentiment weekly positive 2. war was not end possible for gap up check the price action in charts buy are sell in 15 min time frame (Chart shows a breakout ) (small Up Trend ) 1.IF Tomorrow gap up 5 min or 15 min candle if break the resistance 33776 .. if we can see the price action for buying side and exit at the target price 34339 2.If Open in flat wait for the trend up side or downside Or it may have side ways then take the trade 3.if gap down cross wait For close the 5 min or 15 min candle the crossed 33389 buy and wait for the target Weekly high and low should be mark when 1st time hit resistance and halt for 1 day or 4 to 5 hour may change the trend .. Monday may gap up it may have chance to up side Possibility my have on up side (up to previous week swing high) Note . this just prediction. market can happen anything I Don't Know how to insert in pic in the text documents Can any one suggest me
NSE:BANKNIFTY
by tarunkumar1996
$BTC Weekly update$BTC On $24,690 support, weekend daily closes bearish, Last weekly close with bearish engulfing. Warned on Jun 07 about bearish pin bar on weekly close which was followed by the recent drop. Watch $24,129, $22,379, $21,299 & $19,535. For initial resistance from here watch $27,478. Gave these support areas on May 10. RSI below 30 on weekly, on daily at 28.35, 4H at 18.85, and 1h at 19. Expect small climb towards given resistance during this week with some sideways movement, yet to build reliable support here watch given support and resistance areas.
COINBASE:BTCUSD
by limitlessnash
Nifty Spot Weekly Outlook 06th June to 10th JuneFalcon Analytics Outlook Nifty 50 for the Expiry week ( Jun 06 – June 10 ) Last Weekly Nifty witness selling pressure @ 200day EMA @ 16746 on friday, while the pivot for the week @ 16223 was not breached. Technically for this week on the daily charts we see minor support on the downside for Nifty50 index lies at 16358 levels, whereas minor resistance on the upside is capped around 16824 levels. If Nifty50 index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 16250/16114 and and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 16960/17095 . Currently Nifty50 index is trading Below Red Line 200 day EMA @ 16746 suggests long term trend is Bearish . Range for the week is seen from 16114 on downside and 16824 on upside. Below Mentioned Spot Levels can be used to trade Long Or Short during the week ahead. ( All Spot Levels) RESISTANCE 4: 17095 RESISTANCE 3: 16960 RESISTANCE 2: 16824 RESISTANCE 1: 16740 WEEKLY PIVOT LEVELS: 16605 SUPPORT 1: 16469 SUPPORT 2: 16385 SUPPORT 3: 16250 SUPPORT 4: 16114 All above views for education purpose only. Regards, MD .
NSE:NIFTYShort
by miraldesai
Nifty Spot Weekly Outlook 30th May to 03th JuneFalcon Analytics Outlook Nifty 50 for the Expiry week ( May 30 – June 03 ) As Discussed in Last Weekly Analysis Nifty witness selling pressure @ major resistance @ 16387 on Monday, while the major support for the week @ 15560 was not breached. Technically for this week on the daily charts we see major support on the downside for Nifty50 index lies at 15907 levels, whereas major resistance on the upside is capped around 16418 levels. If Nifty50 index breaches major support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 15712/15516 and and if breaches major resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 16538/16734. Currently Nifty50 index is trading Below Red Line 200 day EMA @ 16754 suggests long term trend is Bearish. Range for the week is seen from 15907 on downside and 16734 on upside. Below Mentioned Spot Levels can be used to trade Long Or Short during the week ahead. ( All Spot Levels) RESISTANCE 4: 16929 RESISTANCE 3: 16734 RESISTANCE 2: 16538 RESISTANCE 1: 16418 WEEKLY PIVOT LEVELS: 16223 SUPPORT 1: 16027 SUPPORT 2: 15907 SUPPORT 3: 15712 SUPPORT 4: 15516 A ll above views for education purpose only. Regards, MD. [
NSE:NIFTY
by miraldesai
An interesting week of short covering.A week to remember the huge gap down and recovery. Tomorrow's expiry is going to influence multiple news. Let's see where the nifty is going to expire tomorrow. key levels to watch out for above the 200EMA and 16750 as the first levels to keep an eye on. down side 16150 and 16000. It was a week to remember because I had been carrying a position Friday. I sold 17200CE and 14900PE at a good premium. Then on Monday, the roller coaster ride began with a huge gap down. I was rolling my CE to 16800 and book profit. Yesterday, I rolled again to 16600CE, PE side. I kept holding on and nifty started moving up. It was a nice move. PE started green. I have a16600 CE side, but it looks like a good position. such a sharp move today the CE shoot up i keep roiling my PE to 15250PE and 15000PE. book profit, but such a sharp move 16600 eat all the profit now at no profit and no loss state. Currently, I have 16600CE and 15700PE. I will have to firefight to adjust the position. Let's see how it ends this week. I am planning to exit the CE only after crossing 15550. I will keep rolling my PE side to 16100 and 16150. Let's see how it is going to end this week. If such an out of the world premium spikes, then I will exit my position with minimal loss.
NSE:NIFTY
by Manuadarsh
The week end on a high.The week ends on a high. i was expected that it would be a tricky expiry, but it could end up with nearly 2%. I haven't done any aggressive position yet, selling premium spike helped me get there. The week ends on a high. I expected that it would be a tricky expiry, but it could end up with nearly 2%. I haven't taken any aggressive positions yet, but selling premium spike helped me get there. Can I hold on to my 17500CE and 15400PE On Thursday, it absolutely melted. I could roll up my position to 16900CE and 16200PE to end the week. Let's keep a close look at the price action. vix on top and nifty in a negative trend. I will make a decision after watching below 16000 and above 16700. I hope everyone has a good week.
NSE:NIFTY
by Manuadarsh