Banknifty 2 b pattern target : 9150 ???
- Thread starter santhosh2010
- Start date
Nifty future analysis 05/aug/2013 [vimalraj]
Rising Wedge Chart Pattern
"Rising Wedge" patterns are similar to "Symmetric Triangles" but "Rising Wedge" patterns form in an angle where as "Symmetric Triangles" are mostly horizontally formed. "Rising wedge" patterns have higher highs and higher lows and are connected with two angled (slanted) trend lines. These trend lines converge at the top. The price must intersect each trend line at least twice before the pattern fblly emerges.
"Rising wedges" are usually bearish in both uptrend and downtrend markets. In addition, they
have a high failure rate and are relatively difficult to spot them. They seem to work well in bullish markets.
Trade: "Rising wedges" are defined by the trend lines connecting the highs and lows of the pattern.
The price trading outside the lower trend line signals a potential short trade. A "short" trade isentered when the prices close below the breakdown's bars low (must be below the trendline).
Target: After trade entry, a target is set at the lowest point in the wedge formation. Another targetmeasure would be the length of "wedge" pattern from the breakdown level.
Stop: Place a "stop" order above the last "swing high" of the "wedge" pattern.
Rising Wedge Chart Pattern
"Rising Wedge" patterns are similar to "Symmetric Triangles" but "Rising Wedge" patterns form in an angle where as "Symmetric Triangles" are mostly horizontally formed. "Rising wedge" patterns have higher highs and higher lows and are connected with two angled (slanted) trend lines. These trend lines converge at the top. The price must intersect each trend line at least twice before the pattern fblly emerges.
"Rising wedges" are usually bearish in both uptrend and downtrend markets. In addition, they
have a high failure rate and are relatively difficult to spot them. They seem to work well in bullish markets.
Trade: "Rising wedges" are defined by the trend lines connecting the highs and lows of the pattern.
The price trading outside the lower trend line signals a potential short trade. A "short" trade isentered when the prices close below the breakdown's bars low (must be below the trendline).
Target: After trade entry, a target is set at the lowest point in the wedge formation. Another targetmeasure would be the length of "wedge" pattern from the breakdown level.
Stop: Place a "stop" order above the last "swing high" of the "wedge" pattern.
Dear Mr. Santosh,
Ive been a big fan of your work. I would like you to be my teacher. I would like to come wherever you are and spend some time learning some technical things from your. Im very serioud about this. Please let me know if you can make me an opportunity for me to come and learn from your in person. I await your positive reply.
Brgds
Ive been a big fan of your work. I would like you to be my teacher. I would like to come wherever you are and spend some time learning some technical things from your. Im very serioud about this. Please let me know if you can make me an opportunity for me to come and learn from your in person. I await your positive reply.
Brgds
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