More room to go upOn daily TF,
Waves' broken out Triangle Pattern. Now it's going up to the nearest high 3.375
Before go there, it might be around resistance 2.39
Wait and see
Trianglebreak
PERLUSDT Impulse wave reactionPERLUSDT is igniting an impulse wave in reaction as the price bounce inner a broadening structure, in a micro triangle breakout. Fisher Transform bullish crossing is suggesting the direction in time correlation. Aiming 5% upward wave-iii.
🪙📉 Gold: Double Top Breakdown - Get Ready for a Bearish Ride! Attention, traders! We have an enticing bearish setup in the Gold market on the daily timeframe. The key to this setup lies in the formation of the double top pattern, where price establishes two prominent peaks at approximately the same level. This pattern serves as a robust bearish reversal signal, indicating a potential downtrend ahead. As price stagnated below the neckline, which acted as a strong resistance, the bearish sentiment intensified.
During this period of consolidation, a trend continuation triangle has taken shape. This triangle formation further reinforces the bearish bias, suggesting that the downtrend is likely to continue. As traders, we can leverage this setup and seek opportunities to profit from the downward movement.
Looking at the indicators, the moving averages continue to show a bearish momentum. These averages not only act as resistance levels but also validate the bearish bias. The convergence of these factors further supports the bearish outlook, providing additional conviction for traders to consider entering a short position on Gold.
With all these elements in place, it's time to seize the moment and enter a short position on Gold. The initial take profit level can be set around 1910, where we can secure partial profits and capitalize on the downward momentum. However, our ultimate target lies around the 1855 area, aiming to capture the potential continuation of the downtrend.
As you navigate this trade, remember to take significant profits when approaching the target area, as it represents a crucial support zone. Please respect money management, dont place more than 2% on that trade also.
Lets trade the trend ! happy trading !📉🪙
And don't forget to press the like button if you think this insight was helpful 🚀💪
Symmetrical Triangle In BEMLSymmetrical Triangle breakout in BEML on daily timeframe.After Breakout Retesting is Done and one can go long between 1512-1518 with Risk Reward ratio of 1:2.
Mid-Range Trade opportunity on JP MorganHere is a good trade opportunity on JP Morgan.
I will wait for the breakout of the resistance level and then enter after a successful retest to the resistance level, and if it fails to break the resistance level and breaks the lower trend I will Exit and close the trade.
1- You can get around 11% profit easily.
2- It might take 1-2 months.
3- There is also a dividend declared by the company ( Ex-date: 5th July 2023).
4- This is one of the most reputed and large-cap companies, so it should be considered safe!
5- Follow the instructions on the chart carefully, Feel free to modify the trade according to your risk.
Disclaimer: This is not a piece of investment advice and I am not a certified financial advisor, I just found an opportunity and thought it would be great to share it with the community, Invest at your own risk, and feel free to modify the trade according to your risk profile.
PARAGMILK Swing Trade SetupThis will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal.
PARAGMILK is in downtrend from 2018 and Forming Descending Triangle and broke trendline resistance with good volume.
CMP is 112.30
Nearby Support is at 98.
Nearby Resistance is at 128.
Not Defining any targets or SL just posting views of stock charts which are looking good for trade setups.
Always do your analysis and trust your own analysis.
Will the DOW break through or bounce back?The DOW is at an interesting level now.
It nearly touches the upper side of a triangle. If it breaks through, there is a resistance zone waiting.
What's next?
Will the DOW break through the triangle and resistance zone or bounce back?
Will this be a short chance while summer is looming?
Disclaimer:
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations
📈 HOW TO: ASCENDING TRIANGLE PATTERN📍 What Is an Ascending Triangle?
This pattern emerges when the price movement allows for a horizontal line to be drawn across the swing highs, while a rising trendline is drawn along the swing lows. These two lines together form a triangle shape. Traders actively monitor triangle patterns for potential breakouts, which can occur either upward or downward.
Ascending triangles are often referred to as continuation patterns because they typically result in a breakout in the same direction as the prevailing trend that was present before the triangle formation. This pattern offers traders a clear entry point, profit target, and stop-loss level, making it a tradable opportunity. It is worth noting that an ascending triangle can be distinguished from a descending triangle.
📍 How to Identify and Use the Ascending Triangle Candlestick pattern
To identify the ascending triangle pattern, you need to look for a period of price consolidation within an ongoing uptrend. During this phase, the price will exhibit a series of lower highs and higher lows, indicating a temporary balance between buyers and sellers. The upper resistance line of the pattern can be found by connecting at least two highs within the consolidation phase, while a rising trendline is drawn by connecting at least two higher lows.
Confirming the pattern involves ensuring that the price was in a clear uptrend before the consolidation phase, the upper resistance line is horizontal or slightly slanted upward, and the rising trendline intersects with the upper resistance line. Additionally, analyzing candlestick patterns within the consolidation phase, such as doji, hammer, or engulfing patterns, can provide further confirmation of buying pressure.
Once the ascending triangle pattern is confirmed, traders can set their entry and exit points. Typically, a long position is entered when the price breaks above the upper resistance line, indicating a bullish breakout. The height of the triangle pattern can be used to estimate a target price level, and a stop-loss order should be placed below the pattern to manage risk.
💥 Key Takeaways
🔹 Ascending triangles are considered a continuation pattern, as the price will typically break out of the triangle in the price direction prevailing before the triangle, although this won't always occur.
🔹 The trendlines of a triangle need to run along at least two swing highs and two swing lows.
🔹 A long trade is taken if the price breaks above the top of the pattern.
🔹 A short trade is taken if the price breaks below the lower trendline.
🔹 A profit target is calculated by taking the height of the triangle, at its thickest point, and adding or subtracting that to/from the breakout point.
🔹 A stop loss is typically placed just outside the pattern on the opposite side from the breakout.
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TATA CHEMICALS TRIANGLE PATTERN swing trade take trade when nifty turns bullish swing trade perfect symmetrical triangle short term opportunity for upside take trade after breakout from the trendline according to own risk this is not call just a analysis.
📉🐻 Cracking the Code: EURUSD Bearish Setup 📉🐻Traders, get ready for an enticing opportunity as we unveil a compelling bearish setup on the EURUSD pair, observed on the 1-hour timeframe. It's time to crack the code and capitalize on a potential sell signal, driven by the breakdown of an asymmetrical triangle pattern.
Our journey begins with the recognition of this pattern, characterized by lower highs and a relatively horizontal support line. The recent breakdown of this triangle pattern signals a shift in market dynamics, with the bears taking control. For optimal entry, we suggest waiting for a retest of the previous support level, now turning into resistance around the 1.07000 mark. This retest presents a favorable opportunity to join the downtrend at an optimal price level.
To manage risk effectively, it is recommended to set a stop loss above 1.07100, safeguarding against unexpected market fluctuations. With risk under control, we can focus on our profit targets. The first target lies at the minor resistance level of 1.06545, providing an opportunity to secure gains along the way. The ultimate target is set at 1.06200, aligning with the bearish sentiment and offering further potential for profit realization.
Trading with the trend can significantly enhance the probability of success, and in this case, the trend continuation pattern of the breakdown presents a high probability opportunity. Additionally, the bullish momentum observed in the dollar index further strengthens the case for a bearish bias on the EURUSD pair.
Get ready to ride the momentum and embrace this bearish setup. Stay attuned to market developments and adapt your strategy accordingly as the trade progresses.
Don't forget to press the like button if you think this insight was helpful !📉🐻💪
ARTEMIS MEDICARE TRIANGLE PATTERNswing trade take trade when nifty turns bullish swing trade perfect symmetrical triangle short term opportunity for upside take trade after breakout from the trendline according to own risk this is not call just a analysis.
BFUTILITIE TRIANGLE PATTERN swing trade take trade when nifty turns bullish swing trade perfect symmetrical triangle short term opportunity for upside take trade after breakout from the trendline according to own risk this is not call just a analysis.
STAR PAPER MILLS TRAINGLE PATTERN
swing trade take trade when nifty turns bullish swing trade perfect symmetrical triangle short term opportunity for upside take trade after breakout from the trendline according to own risk this is not call just a analysis.
Bank Nifty Trade Setup (24-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup.
So today BNF Opened gap up and unable to sustain the gap again as happening from last week and keep in consolidation. From price action this is forming a ascending triangle and price is moving in wave as plotted in chart. Today BNF Took Support near lower trendline and for tomorrow setup i will keep these things in mind:
1.) Price is moving in wave which might move up from this level to the upper ATH level. If opens flat and price sustains i will initiate CE Buy trade.
2.) If opens gap down or doesn't sustain the opening 15 minutes i will Take PE Buy for Next near Support (43730-43700).
3.) If Opens gap up between this triangle i will wait for price action to form and then trade accordingly.
Also on Break of this Pattern on either side will be a good move. so will try to have some patience and will not buy aggressively. also will stop loss less than 35 points as if there will be good move even 35 points stop loss doesn't trigger as it does in sideways when there is price manipulation.
Hit like to keep me motivated for keeping my trading journal. also one can comment how i can make it better or any improvements i can make in my trading setups or improving this journal.
Bank Nifty Trade Setup (23-May-2023)As posted yesterday price is consolidating between 700-800 Points near ATH Level.
From price action Its moving in Lower Highs and Higher lows forming symmetrical triangle pattern breaking this pattern on either side can give 200-250 points for the levels of horizontal resistance also ATH on upside and horizontal support at 43550 levels.
For tomorrow Setup i will look for following :
1.) If Opens flat will wait for break of this triangle pattern and on which ever side it break will trade accordingly for target of Support or Resistance levels.
2.) If opens gap up will check if it retest this pattern and if sustain the Gap i will look for buying for target of ATH which will also be partial booking or full booking as per my time for it.
3.) If opens gap down will follow the same check if it retest triangle pattern if doesn't sustain will buy PE for target of support level. if price sustain above triangle lower trendline i will look for buying with first target of Triangle upper trendline.
This will be my personal trade Setup, This is not an advice of any kind to trade for anyone.
Hit like to keep me motivated for keeping my trading journal. also one can comment how i can make it better or any improvements i can make in my trading setups.
FINNIFTY Expiry Day Trade Setup (23-May-2023)This will be my personal trade Setup, This is not an advice of any kind to trade for anyone.
Price is moving in Triangle Pattern will Break of this can give good trade setup, will follow these points:
1.) If opens flat between this triangle then will wait for price to break this pattern as buying PE near upper triangle trend line resistance for target of lower triangle trendline will be slow and there will be theta decay which will just eat premium.
2.) If opens gap up will look for nearby resistance levels. CPR Levels to be in a trade.
3.) Same for Gap down opening only will if it sustain support or if it rejects it.
4.) As it is expiry day so there will be volatility and if setup isn't good due to theta decay it will only eat premiums. Also if i place any trade in FINFIFTY i will be sure to book profits as soon as possible. and will try to look for 5 minute chart to enter a position and 1 minute chart to close my position.
Hit like to keep me motivated for keeping my trading journal. also one can comment how i can make it better or any improvements i can make in my trading setups.
JUSTDAIL TRIANGLE PATTERN swing trade take trade swing trade perfect symmetrical triangle short term opportunity for upside take trade after breakout from the trendline according to own risk this is not call just a analysis.
KESORAM TRIANGLE PATTERN swing trade take trade when nifty turns bullish swing trade perfect symmetrical triangle short term opportunity for upside take trade after breakout from the trendline according to own risk this is not call just a analysis.
SUPRAJIT swing trade take trade when nifty turns bullish swing trade perfect symmetrical triangle short term opportunity for upside take trade after breakout from the trendline according to own risk this is not call just a analysis.
IRCON SWING AND INTRADAY TRADEswing and intraday trade take entry once the trendline get broken with good volume candle close rr is like 1:3rr which is good enough
AUDJPYAUDJPY currently is in symmetrical triangle.
in which direction it will break first?
Share your thoughts.
NAVA SWING TRADEswing trade take trade when nifty turns bullish swing trade perfect symmetrical triangle short term opportunity for upside take trade after breakout from the trendline according to own risk this is not call just a analysis.
