ICBA trade ideas
ICICI BANK MAY HAVE A CORRECTION. RISING WEDGE PATTERNICICI bank's price has been forming a rising wedge pattern which has got broken today.
According to the height of the pole and XABCD bullish shark pattern, the target is set at 647.
The trade setup is to buy ICICI when it reaches 647 or short if there's a pullback to confirm the fall.
The stoploss here is to place at C according to both the patterns, which is not a good risk-reward ratio. So, try to buy when the price falls to 647.
Happy trading :)
This is just for educational purposes.
Ascending triangle in ICICI Bank Ascending triangle & double top breakdown and resistance .
what is Ascending triangle?
An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns.
will it retest the support ?? if yes. then we can enter when it fails to break.
entry level is 721, 720 or 719
stop lose is 716 or 715
below 712 it does not look good
max target 740rs according to ascending triangle
735 is the best target according to me.