Why Buy and Sell
Now you need to understand the chart Is creating 2 patterns at the same time
1. Tripple Top (which is a trend reversal)(Which is highlighted in Yellow)
2. Cup and handle (which is highlighted in Blue)
If the price crosses the resistance line and creates a new candle above the resistance line then Buy the Target is 1130.( Which means its...
The chart is creating Pennant pattern but not completed yet.
Buy if the price crosses the resistance line and closes above it with that it should create a new candle above the resistance line then buy it.
Expecting Target of 250, 275, 290.
I'm not giving you a specific entry so that u have to check the chart daily.
Finally as always apply a bit of your studies...
If tomorrow's market(i,e: 18/05/2021) opens above the support line then Buy. It previously created a rising wedge but failed to complete the pattern and now it has created a price channel it may work.
Targets are as shown in the image.
If the price crosses the Resistance line and closes there, and it should create a new candle above the resistance line then Buy.(I,e : Buy above 120)
Expecting Target of 128, 137, 145
Don't forget to apply your own studies before buying.
As you can see it has created a beautiful Inverted Head and Shoulder Pattern n.
The Rules are from the center of the head to center of the shoulder there should be at least 7 to 8 candles.
After creating the first shoulder, Price Touches the neckline let's take that point as A and the bottom of the head as Point B.
When finally after creating an inverted head and...
The Daily chart in Bandhan Bank shows a clear-cut M Top or Double Top pattern.
Note that it's a trend reversal pattern. As you can see before the M top it was bullish and After the M top it created a bearish Trend.
Let's call the first candle which crosses Neckline as Point B, and the Resistant line as Point A.
when the candle finally crosses the neckline after...