NSE:SYMPHONY has confirmed a breakout from the double bottom pattern. The breakout candle solidifies this move. The target is calculated by adding the height from the bottom to the neckline. Maintain a stop loss just below the neckline to manage risk effectively and protect against potential reversals.
NSE:SYMPHONY is currently forming a double bottom pattern, which indicates a potential bullish reversal. This pattern typically suggests that the stock has found strong support at the bottom levels and may be preparing for an upward movement. However, traders should exercise caution and consider entering a trade only after a confirmed breakout above the...
NSE:PRAJIND has finally given a breakout above the neckline. At the end of the day we can see the confirmation if the candle closes above the neckline. We already have the target and stop loss mentioned.
Adam and Adam Double Bottom Formation: This formation typically indicates a reversal pattern, characterized by two sharp V-shaped bottoms. It reflects a strong rejection of lower prices and often precedes a bullish trend reversal. Breakout Confirmation: Yesterday's NSE:BANKNIFTY breakout above the neckline adds confirmation to the bullish bias. The candle...
1. Identifying the Downtrend: A downtrend is characterized by a series of lower highs and lower lows. Upon analyzing the price chart of Praj Industries, it's evident that the stock has been declining over a certain period. This downtrend is marked by a consistent pattern of lower highs and lower lows, indicating selling pressure and overall bearish sentiment in...
It’s Friday! TGIF Here’s another Forex trading Snack. After the ECB enacting unlimited QE yesterday during it meeting EUR was shaken with volatility and created what can be viewed as a double bottom pattern. After breaking the neck line and holding it, the path of least resistance I believe is toward completion of the pattern. That should take us towards...