Pattern Trading

[J_D]

Thanks Rahul for your explanation on Double Bottom Formation on TVS Motors.

it was a good informative explanation.

Regards,
John.

 

[aca_trader]

Hi ashish,

your view on ths.......a long triangle......a breakout above 135 could be nice and even the target would be nice...

Rgds

Rahul

Dear Rahul!

I do agree that it's an ascending triangle breakout. However, my view on the chart are a bit different. The chart is attached here.

Best Regards,
--Ashish
http://tradingtalks.blogspot.com

 

[aca_trader]

Hi John,

It has reached a plac where it can form a DB. But it might go down also. On daily charts 78 is a good support so it might move up again from here. But to be a valid Double bottom it has a long way to go. It has to break its valley at Rs.127/- and then it will be a DB.

There is a smaller Double bottom which will be valid after a break above 90 and if breaks its valley at 90 will have a target of nearly 105.

Ashish comments


Rahul

Good Analysis Rahul!
Only a small comment that we can take valley from 92-78.

Best Regards,
--Ashish
http://tradingtalks.blogspot.com

 

[aca_trader]

dear ashish,
Congrats on new Blog. It is wonderful knowledge source.
and i could not thank u enough for that.
at same time my small suggestions.
1) would it be possible to post Charts in white background(as background of blog is Dark)
2) can the post be more informative regarding date when they are posted?(it is still easy to find out but in case it is possible that one can find out at a glance it will be great help)
regards

Dear Friend!
Thanks a lot for your compliments.

I have implemented the suggestions. Please provide feedback.

Best Regards,
--Ashish
http://tradingtalks.blogspot.com

 

[aca_trader]

Dear Ash,

for your comments. gas authority. Broadening triangle with flat top shows accumulation. it has broken out and is just above the BO. BUt the chart seems very noisy to me.

Hero honda looks nice and is a triangle in formation.

Liberty shoes is another triangle with a BO already and its run up. But long tails on the candlestick suggest it might pull back a little. this one is definately a played stock as it did big vlumes just 2-3 days prior to the start of the pattern.

Rahul

Dear Rahul!

To my eyes, GAIL appears to be a channel breakout. It's in a pull back mode and we can go long in the stock above 290 with the last pivot (yet to be made) as Stop Loss.

Liberty--- You are correct about Ascending Triangle BO. The target has already been achieved. Hence, we should breakout for a pul back now.

Hero Honda -- Ascending Triangle is on charts but volumes are not confirming. Let's see how breakout behaves. (I have published this chart on blog as I was not aware that you have already posted on the forum. I hope you will not mind.)

Best Regards,
--Ashish
http://tradingtalks.blogspot.com

 

[aca_trader]

New Breakout Candidates

Dear Friends!

The following new breakout candidates have been identified.

3I & ABAN - Brodening Top
Adani - Descending Triangle on top.
AMTEKAUTO, Punj LLoyd - Symmetrical Triangle
HEROHONDA, Radico - Ascending Triangle
Infosys & Investsmart - Rectangle

You can check out the charts here.

The follow-up action for previously identified breakouts has also been updated.

Best Regards,
--Ashish
http://tradingtalks.blogspot.com

 

[ragh_ash]

thanks ashish,
always expect such a fast response only from members of Traderji.
just another thing to add:
can names be written above each chart(makes it visually more precise) as name on chart itself is not visible instead of cluster at end of post
regards

 

[MILAN]

hello friends,

it is very useful site,

 

[aca_trader]

Reliance-Positive Breakout

Reliance has broke out of a 10 week long rectangle.
Last leg of the consolidation took shape of an imprefect
Ascending Triangle.

Check out the charts here.

Best Regards,
-Ashish
http://tradingtalks.blogspot.com

 

[winstonn]

Hi ashish,

here are some patterns:

Chenn Petro********Symmetrical triangle on.....

Bharti Artl********* Ascending trianlge ( upper trendline slightly lowered )
Break Happened

HDFC *********** Symmetrical trianlge ( superb formation on.....)
Big Bang Expected

HLL************* Falling wedge

thanxs
winston