Chart analysis:- UPL
Broadening wedge pattern
This pattern may look bullish, but it has hidden bearish signs:-
1. Buyers' exhausting action. Failing to make new highs and breaking out of the last highs.
2. RSI is showing divergence. Price rising, but RSI is falling.
3. Long wicks on top showing selling pressure.
In such a case, we can see a pullback to the lower side of the wedge.
On the other hand, if it breaks out of 670, it will test the upper side of the wedge at around the 680- 685sh zone.
Buy only if the price breakout is accompanied by a volume candle and RSI breaking the level of 65+
This chart is to analyse the possible trade setup on either side of the breakout of the wedge pattern.
Broadening wedge pattern
This pattern may look bullish, but it has hidden bearish signs:-
1. Buyers' exhausting action. Failing to make new highs and breaking out of the last highs.
2. RSI is showing divergence. Price rising, but RSI is falling.
3. Long wicks on top showing selling pressure.
In such a case, we can see a pullback to the lower side of the wedge.
On the other hand, if it breaks out of 670, it will test the upper side of the wedge at around the 680- 685sh zone.
Buy only if the price breakout is accompanied by a volume candle and RSI breaking the level of 65+
This chart is to analyse the possible trade setup on either side of the breakout of the wedge pattern.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
absoluteanalysis.in
whatsapp channel: whatsapp.com/channel/0029VanXIFTAzNbzxU4hF62L
whatsapp channel: whatsapp.com/channel/0029VanXIFTAzNbzxU4hF62L
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.