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Fallingwedgepattern

BRITANNIA - Falling Wedge + Rounding Bottom -Short Term/IntradayThis analysis is purely based on price action and Chart Patterns. The analysis is on 30min TF hence target can be achieved in intraday trade or in couple of days. Trade logic with SL and Target is explained in image itself. One can Zoom out or scroll the chart to see how price reacted the levels previously. Don't chase the price. Always plan your trade & trade your plan Keep trailing SL accordingly once entered into the trade. This analysis is purely for education purpose. Kindly do your own study before entering into any trade . Feel Free to comment for any suggestion or query regarding price action analysis. To check how stocks move after forming rounding bottom, check the images linked below PAGE INDUSTRIES (Monthly) CERA SANITARYWARE (Monthly) Also you can check the ideas linked below for more understanding.
NSE:BRITANNIALong
by AdityaKarn90
EURCAD, daily tf with line chart, falling wedge/wolfe waveHello my friends, I sometimes switch to line chart for a better perspective in drawing lines. It eliminate many noises and only focusing on candle close. EURCAD making a nice falling wedge / wolfe wave pattern at daily timeframe in my opinion right now. Price are bullish and moving inside the line i marked. Yesterday candle / friday candle closing below it which could be a false break as today price come back inside the marked area. I am buying EURCAD 1.5580 Stop loss 1.5510 Take profit 1 @1.5650 Take profit 2 @1.5720 Use only 1-2% risk Good Luck
Long
by HayatoDragonFX
3
Two Shapes of Falling Wedge PatternsIn the previous educational post, i posted about Rising Wedge patterns and in this post i have explained about Falling Wedge Patterns. (Falling Wedge is opposite of Rising Wedge pattern; for every chart patterns there are opposite patterns excluding some.) Falling Wedges are Bullish Patterns and it generates bullish signal, Falling wedge patterns forms with Lower highs and Lower lows. Falling Wedge pattern basically forms in two shapes same as Rising Wedge ; If Falling wedge pattern forms in an uptrend it will make continuation and if Falling wedge pattern forms in a downtrend it will make reversal. The Lower highs and the lower lows along makes a trend resistance and trend support. When breakout occurs upside, price breaks the trend resistance line. In Falling wedge breakout occurs upside 60 to 70% of the time. To confirm a true breakout, we can take help of Volume and other indicators. In a true breakout there will be big volume than usual. We should use other indicators like MACD and RSI also to confirm that it will turn bullish before taking entry in a trade. (We can see MACD convergence, RSI convergence) Stay Tuned 👍 ; Thank You; Check out Rising Wedge if you didn't ()
Education
by tapasdhanadana
1