Trading With Chart Pattern

Hi soumya_b ,

I have a query abt. ascending triangle formation ..Please find attached image file for HeroHonda - Daily Chart ..Just wanted to know is there a building/formation of an Ascending triangle looking at the chart ?

Regards,
Raju

Hai Raj, first of all, ascending Triangle needs four reversal to confirm dat its there. N specifically about hero honda, its all over the place, u'll do better leave it n go for another chart.

Regards.

Gaurav

Time to go short on M&M. Attached the daily chart.
Cheers
djsinha

Dear Raju ...
Yes it is ,..
Go ahead..
Regards,..
Darsh

Hi Raju,
In my view, there is no Asc Triangle here for following reasons -
1) Asc Triangle is continuation pattern.
2) It occurs in an uptrend as Bulls stop to take breath
3) It also comes at the bottom of downtrend and indicates reversal formation.

In case of Hero-Honda, there was no up or down trend at the place where your marked triangle is shown (22nd-Jan). HeroHonda has been in sideway move since long time hence there is no question of trend continuation or trend reversal. So I will search for breakout patterns on this chart rather then spending time on finding the continuation pattern.

btw, it has already given "Bearish Harami" pattern on Monday 7-Apr and it is already close to strong resistence line around 775 (touched almost 7+ times in the past) so it will be interesting to watch the stock near resistence line.


Happy Trading.
- Anup

Hi All,

Thanks for the comments everybody. It will help me a lot.

Thanks,
Raju

Double Bottom Brk-out In Chambal Fertilizer??

M in a bit of Doubt whether is it a Truw double bottom or..........................

I wish all the Senior Members, 'll add their views on it. Looking forward for ur rep guys.

Regards.

Gaurav.........................

Last Minutes Triangular/double bottom Brk-down in Nifty 5min chart

See the Chart Pic attached n post ur views.

regards.

Gaurav.............

dear friend,

can u please guide me on how to upload pic, image? because the limitation is 100kb. even when i try to zip the file using winrar, it does not get compressed much. i save charts using fibotrader.

regards,

nick

Open the picture in paitbrush, save it in PNG format. & upload it here.
it will reduce the file size, but picture size & quality will be almost same.