CNERGY, Harmonic Gartley, Bullish Move ExpectedHarmonic Gartley Pattern
Expected Reversal
Ascending Triangle Formation
Buy on closing above triangle
Buy above 4.30
Stoploss 3.65
Target 5.42
CNERGY trade ideas
CNERGY | Daimond PatternCNERGY is currently forming a diamond pattern, which suggests a potential uptrend. A breakout level is identified around 4.30. Should the price sustain above this level, it may advance towards 4.80 and subsequently to 5.38. It is advisable to set a stop loss at 3.75, positioned below the previous swing low.
PSX: CNERGY foundation has been laid.From the start of this year the CNERGY has been struggling to sustain it journey to north and has not been successful in its attempts. In all this a triangle has been formed suggesting that it will resume its journey in whichever direction it breaks. Currently the price is breaching the upper trend line creating a bias for upward movement.
SL for the trade is 3.40 & correspondingly the TP is 5.40. Close above 5.40 shall lead to the medium term TP which is 7.48
Wishing you Profitable Trading
CNERGYPrice rejected from resistance level in last trading session. If 3.7 level sustains we expect pull back and this time breaks resistance above 4.10. First and second targets are 5.10 and 5.60 respectively. However, risk is defined below 3.70
Cnergy Analysis - (2.0) Buy."It looks like Cnergy is on the verge of a bullish reversal and may soon enter an upward trend. The RSI is showing bullish divergence 📈, and there's a bullish reversal pattern forming in the shape of a falling wedge. I recommend placing a buy stop order at 4.60, to be triggered upon the LH and neckline break. Alternatively, you can consider partial buying at current rates near the channel bottom, with confirmation at 4.60. 🚀 Set your stop-loss (SL) at 4.20 and target 5.10 and 5.60 respectively. This strategy blends technical analysis and risk management for a potentially profitable trade. Best of luck with your trading! 🍀🌟"
Cnergy (Analysis).(Long)Technical Analysis: CNERGY (Ticker: CNGY)
Pattern Analysis: CNERGY shows a bullish falling wedge pattern, hinting at a potential reversal.
RSI Analysis: RSI (30-70 range) supports bullish momentum without divergence.
Trade Tip: Consider going long above the neckline at ₹4.61 with a stop-loss at ₹4.27.
Target: A double bottom pattern suggests a target of ₹5.50.
Summary: Bullish outlook with a breakout potential. Entry at ₹4.61, target at RS 5.50. 📈🚀
Disclaimer: Not financial advice; do your own research.
CNERGYWe can attempt to buy CNERGY if it gives breakout of above trendline of symmetrical triangle pattern , target would be 6.3 .
We can attempt to short CNERGY if it gives breakout of below trendline of symmetrical triangle pattern , target would be 2.61 .
Currently We can use wait and see approach and act from specified level.
CNERGYEngaging in trading activities by relying on the analysis of patterns involves the systematic examination of historical price movements and formations in financial markets. Traders who employ this approach typically scrutinize charts and identify recurring patterns, such as triangles, head and shoulders, or candlestick formations, to make informed decisions about when to enter or exit trades. The methodology behind pattern analysis is rooted in the belief that historical price movements often repeat themselves, providing traders with valuable insights into potential future market behavior. By recognizing and interpreting these patterns, traders aim to predict market trends and capitalize on potential opportunities, enhancing their chances of making successful trades. However, it's important to note that pattern analysis is just one of many tools in a trader's toolkit, and its effectiveness is subject to various factors and market conditions.
Downtrend of CNERGY:PSXis expected to be overCNERGY:PSX is presently in downtrend in 1D timeframe. However a bullish divergence on RSI indicates an end of existing trend and a likely bullish reversal. Long entry through buy stop has been marked above previous swing high. SL has been suitably placed below last LH. TP has been set @ 1:1 RRR.
CNERGY - Bearish trend likely to continueformation of descending triangle and no diversion means continuation of the bearish trend.
