IN REALITY A BROADENING PATTERN
BUT REVERSE THIS, TO SEE A CONTINUATION TRIANGLE BREAKDOWN
- In reality this is a broadening pattern but if you see this in a mirror this becomes a classic triangle breakdown. a retest of the breakdown area and a big correction.
- So if this is a continuation pattern this should continue towards the upside.
- Well the patterns always does not perform the way it is defined, so see what's happening and then take a decision. I am just trying to show how the patterns show up in charts time and again.
Dear San,
ReplyDeletevery nice example with the help of chart.Basically Nifty needs some fresh cash buying here(above 5500)only,which shall force sellers to cover their shorts,otherwise the load O.I.NF is carrying now a days,will be unbearable for Bulls in coming days.Market needs some extra ordinary good clues,only the U.S.market's one night clues are not enough for it.On the contrary if Nifty shall try to climb hurriedly then it will be very good opportunity for fresh Bears to go short positionally on higher levels in coming days.Let us see because Market is always supreme.
Thanx mynac
ReplyDeletenext week is going to be important it might give clues for the larger direction