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| Discuss Trading With Chart Pattern at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; A falling wedge is seen in nifty.... |
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#171
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A falling wedge is seen in nifty.
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#172
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sincerly appreciate your posting sir,definitely would be helpful if more people post their views...
Please find the attached chart...would like your views as well... thanks Last edited by learn2trade08; 14th August 2008 at 11:14 AM. |
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#173
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Though it does not seem to be a head and shoulder it is similar to a ascending triangle.what ever pattern it may be it can be bought if it breaches the upper resistance line. use 60 min charts for entry and strict stop below the support line.
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#174
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double bottom is also there.
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#175
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Exactly.I forgot to mention in my last post.
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#176
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Quote:
although it is not a very classic inverted H&S pattern, yet we can call it one because volume is decreasing gradually as right soulder is forming. you have said that ascending triangle is forming; what i have read is ascending triangle forms in an uptrend and not in a downtrend. please clarify if i am missing something somewhere! regards, nick |
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#177
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Quote:
i wonder how would u call that a head and shoulder (h and s without left shoulder ).As far as ur view on ascending triangle, you are absolutely correct accordin to theory.Theory says that ascending triangle is an continuation pattern.But there are instances when it also becomes reversal pattern.for eg head and shoulders are theorotially reversal patterns but do u know there is one such thing as head and shoulder continuation patters? yes there is h and s continuation.(u can see them clearly illustrated on ashwini gujral's book on chartpatterns.)see the link provided below http://stockcharts.com/school/doku.p...ing_triangle_c The CHART PATTERNS ARE NOTHING BUT THE COMBINATION OF SUPPORTS AND RESISTANCE LINES. so no need to argue, we just need to follow the support and resistance only.
Last edited by rajatheroyal; 25th July 2008 at 01:04 AM. |
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#178
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Quote:
i am not arguing. as the left S was not prominent, i said not a classic H&S pattern. you are right when you say CHART PATTERNS ARE NOTHING BUT COMBINATION OF SUPPORTS AND RESISTANCES. we need to follow support & resistance only keeping a close eye on price. regards, nick |
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#179
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Hi all
There is a double bottom formation in 3iinfotech and chamblfertilizer.wait for the breach of upper resistance line for buying.Further we can suspect a head and shoulder in i-flex. see the charts below. |
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#180
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Hi Raja,
According to me Reliance has formed inverted H&S on daily charts. could u pls check and correct me if i am wrong thanx veena |
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