Nifty has make a falling wedge pattern similar to BNF and there’s a breakout happened with good increase in green volume. Usually While trading wedge pattern the target is set as the same price distance before start of the wedge formation. Shown as A on chart.
As the breakout of wedge pattern has happened we believe that upcoming movement will be to the same price distance of A. That means point A=B.
We can also observe Fibonacci 61.8% collapsing with same price distance as B as shown on chart. Trade safe. We can have 50% Fibonacci level as first target 61.8% as second target.
As the breakout of wedge pattern has happened we believe that upcoming movement will be to the same price distance of A. That means point A=B.
We can also observe Fibonacci 61.8% collapsing with same price distance as B as shown on chart. Trade safe. We can have 50% Fibonacci level as first target 61.8% as second target.