Tuesday, June 23, 2009
Update: Expanding Triangle in Nifty (Futures)
,
Nifty opened exactly at the support of the smaller Expanding Triangle, which i have posted today morning. Below is the 15 min chart of Nifty Futures, watch out for this support line.
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4 comments:
Excellent analysis doji. Do you think prices will hit the upper line and head down? Also, where do you get the beautiful charts?
Hi..Doji,
Consistently accurate with your chart patterns day in and day out.That is dedication at work. Highly recommended for all the traders.
Just stay on this course..
Best regards.
ilango
Hi One,
Thank you
There are two ways to trading expanding triangle, inside waves and the breakout. Trading breakouts is less risker than inside waves.
If you are asking in terms of the target as upper line, that may or may not be probable. But it is easier to trade the inside wave with strict trailing stoploss. But once the price breaks out of the triangle, we can trade with more reasonable stoploss.
-Doji
Hi ilango sir,
Thank you very much for your appreciation. Such comments from technical experts like you encourage to stretch and work harder. Thank you again.
-Doji
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