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| Discuss Trend Reversals at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi all, I was looking at the charts of ABB. Do the last few days ... |
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#1
26th March 2006, 08:25 PM
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Trend Reversals
Hi all, I was looking at the charts of ABB. Do the last few days represent a descending triangle. it did look as the low of the tickers look in the same line and highs seem to be descending. If i am wrong can someone please attach a file here of a chart that does represent the same. A chart of an Indian stock would be more appreciated. Also when we see trend reversals...do they just show immediate decline in ratio to the height of the triangle or a down trend can start or it can be either. and how do we know what it is. Also it would be nice to see charts of other trend reversals in our indian stocks. It would be nice to see them visually as it would make it clear as how they should look. Traderji, even your input would be highly appreicated. Regards Rahul All your inputs would be highly appreciated. 
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#2
26th March 2006, 09:46 PM
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Re: Trend Reversals
ABB seems to be forming a flag or pennant formation.
Flags and pennants are short-term congestion patterns (one to five weeks) that form in trends. They represent pauses while a trend consolidates and are reliable continuation signals in a strong trend. You can read more about this pattern at http://www.stockcharts.com/education...agPennant.html
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#3
27th March 2006, 11:49 PM
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Re: Trend Reversals
Quote:
Thank you. will study it. Regards Rahul
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