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how rectangle pattern works ?
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rectangle pattern
1. price moves in range on side ways to form a rectangle pattern.
2. as a result , a firm resistance on upper side and
support on lower side formed .
3. stock will have either a distribution phase or continuation phase
till breakout of resistance or breakdown of support happens
4. an impulsive move at resistance with volume will suggest a breakout
for steep , fast movement of the stock to next resistance levels .
5. an impulsive move at at support with volume will suggest a breakdown
for steep , fast movement of the stock to next support levels .
6. trade setup :
a.buy above resistance of rectangle pattern keeping support levels as stop loss .
b.sell below support of rectangle keeping resistance level levels as stop loss .
7. mostly a tussle happens in between resistance & support for good period . and fast breakouts and breakdowns happens
8. usually volume will be dry during consolidation phase of the pattern .
volume spike will happen at breakout / breakdown zone for trade confirmations.
for education purpose cadilahc taken one hour time frame ....
same applies for all times and tgts too.
1. price moves in range on side ways to form a rectangle pattern.
2. as a result , a firm resistance on upper side and
support on lower side formed .
3. stock will have either a distribution phase or continuation phase
till breakout of resistance or breakdown of support happens
4. an impulsive move at resistance with volume will suggest a breakout
for steep , fast movement of the stock to next resistance levels .
5. an impulsive move at at support with volume will suggest a breakdown
for steep , fast movement of the stock to next support levels .
6. trade setup :
a.buy above resistance of rectangle pattern keeping support levels as stop loss .
b.sell below support of rectangle keeping resistance level levels as stop loss .
7. mostly a tussle happens in between resistance & support for good period . and fast breakouts and breakdowns happens
8. usually volume will be dry during consolidation phase of the pattern .
volume spike will happen at breakout / breakdown zone for trade confirmations.
for education purpose cadilahc taken one hour time frame ....
same applies for all times and tgts too.
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