Another Triangle Breakout on the hands
Since March 21 CDSL is making higher high's and higher lows,during consolidation triangle pattern is formed and till now it has successfully given breakout on the upside of 4 previous triangles.We are in a fifth triangle.
Average time taken by previous triangles to form: 9.25 days
Average return from triangle breakout:14-15%
Maximum time taken after breakout: 4 days.
Looks like fifth triangle is about to mature.If on monday prices trades above 985,than longs can be initiated with a stop of 950 and tgt of 1085.
PS:look how volumes get's dried up in triangle each time and every price breakout has been supported by volume expansion.
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis
Average time taken by previous triangles to form: 9.25 days
Average return from triangle breakout:14-15%
Maximum time taken after breakout: 4 days.
Looks like fifth triangle is about to mature.If on monday prices trades above 985,than longs can be initiated with a stop of 950 and tgt of 1085.
PS:look how volumes get's dried up in triangle each time and every price breakout has been supported by volume expansion.
DISCLAIMER:There is no guarantee of profits or no exceptions from losses. The study provided is solely the personal views of my research. You are advised to rely on your judgment while investing/Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. Seek help of your financial advisors before investing/trading.
I may or may not trade this analysis
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