HAL ( symmetrical triangle) BREAK DOWN
Honestly My Opinion
I Don't Like buy options Scripts For HAL
as we know premium are way to expensive
But the Chart Pattern is so perfect I cant Avoid the trade
TEXT BOOK chart pattern symmetrical triangle ...
A symmetrical triangle is a chart pattern used in technical analysis that indicates a period of consolidation before the price breaks out in either direction. Here’s a quick overview:
Characteristics:
Converging Trend Lines: The pattern is formed by two trend lines that converge towards each other. One trend line connects a series of lower highs, while the other connects a series of higher lows.
Neutral Pattern: It doesn’t indicate a specific direction. The breakout can occur either upwards or downwards, depending on the prevailing trend and market conditions.
How to Identify:
Trend Lines: Look for two trend lines that converge, forming a triangle shape.
Volume: Typically, volume decreases as the pattern forms and then increases sharply on the breakout.
Breakout Point: The breakout usually occurs before the trend lines converge completely.
Trading the Pattern:
Entry Point: Enter the trade when the price breaks out of the triangle with increased volume.
Price Target: The target price is often estimated by measuring the height of the triangle at its widest point and projecting that distance from the breakout point.
Stop-Loss: Place a stop-loss order just below the breakout point to manage risk.
I Don't Like buy options Scripts For HAL
as we know premium are way to expensive
But the Chart Pattern is so perfect I cant Avoid the trade
TEXT BOOK chart pattern symmetrical triangle ...
A symmetrical triangle is a chart pattern used in technical analysis that indicates a period of consolidation before the price breaks out in either direction. Here’s a quick overview:
Characteristics:
Converging Trend Lines: The pattern is formed by two trend lines that converge towards each other. One trend line connects a series of lower highs, while the other connects a series of higher lows.
Neutral Pattern: It doesn’t indicate a specific direction. The breakout can occur either upwards or downwards, depending on the prevailing trend and market conditions.
How to Identify:
Trend Lines: Look for two trend lines that converge, forming a triangle shape.
Volume: Typically, volume decreases as the pattern forms and then increases sharply on the breakout.
Breakout Point: The breakout usually occurs before the trend lines converge completely.
Trading the Pattern:
Entry Point: Enter the trade when the price breaks out of the triangle with increased volume.
Price Target: The target price is often estimated by measuring the height of the triangle at its widest point and projecting that distance from the breakout point.
Stop-Loss: Place a stop-loss order just below the breakout point to manage risk.
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