Pattern Trading

K

kkseal

Well-Known Member
#53
#53
Consolidation on the top boundary, extending to the apex, adding credence to the Sensex ascending triangle.
Hoping for a good upmove from here on.
First fibo tgt for an intermediate top (14142) achieved Next one should be 14607.
Any downturn from higher levels should find good support at 14070 lvls.

Regards,
Kalyan.
 
R

ragh_ash

Member
#57
#57
hi ashish
thx for the names , another suggestion would be that is it possible that others can also upload charts(of course u get to review first) , reason being i cannot make myself start another blog . but i would like to discuss and learn from ppl like u.
actually patterns may or may not be work out as we anticipate (until they are proven, right)
awaiting ur reply
regards
 
D

dhanasubbu

New Member
#58
#58
Hi Ashish,

Thanks for that chart. I was not knowing how to form patterns. I thought this was a buying opportunity (as this also the highest after 2006 crash). With your pattern , I could see symmetrical triangle pattern. My understanding is that if symmetrical triangle break out happen, the target is height of the triangle. It was good only for yesterday.

Is my underatanding right Ashish.

Best Regards
Dhana
 
A

aca_trader

Active Member
#59
#59
ragh_ash said:
hi ashish
thx for the names , another suggestion would be that is it possible that others can also upload charts(of course u get to review first) , reason being i cannot make myself start another blog . but i would like to discuss and learn from ppl like u.
actually patterns may or may not be work out as we anticipate (until they are proven, right)
awaiting ur reply
regards
Click to expand...
Hi Ash!
Always a pleasure to improve upon.
You are most welcome to post the charts as we learn from each-other only by discussing issues. On blogger, there is a provision for commenting on the posts. Can you please check if it allows posting of charts as well or if you can suggest some alternative way? If yes, I will be most willing to have them on the blog and discuss a different perspective without any moderation. :)

Best Regards,
--Ashish
tradingtalks.blogspot.com
 
A

aca_trader

Active Member
#60
#60
dhanasubbu said:
Hi Ashish,

Thanks for that chart. I was not knowing how to form patterns. I thought this was a buying opportunity (as this also the highest after 2006 crash). With your pattern , I could see symmetrical triangle pattern. My understanding is that if symmetrical triangle break out happen, the target is height of the triangle. It was good only for yesterday.

Is my underatanding right Ashish.

Best Regards
Dhana
Click to expand...
Hi Dhana!
You are right about the symmetrical triangle target. But this is usually the minimum and not maximum target.
The stock is trending finely, has earlier given positive signals on a number of indicators, the trendline is intact & it has crossed 6-month long resistence line; hence one can still enter the stock with good MM principles. As the previous pivotal high was at 166, you can enter the stock at 167 with SL at 160.

The only point of concern is that RSI is in Overbought Zone but in a bull run the stock may remain in OB zone for long periods of time.

Best Regards,
--Ashish
 
Last edited:
You must log in or register to reply here.
Thread starter Similar threads Forum Replies Date
N The Master Pattern Indicator Tradingview Version - FREE Software 1
G Chart Pattern Trading Technical Analysis 1
S Charts Patterns and Intraday Trading Technical Analysis 5
T any afl for finding potential reversible zone in pattern trading? AmiBroker 0
F pasavento pattern based trading AmiBroker 2

Similar threads