TATA POWER Descending Triangle Pattern (1 hr)
Upward Breakout: Wait for a successful retest and closing above resistances
Downward Breakout: Price may give false/premature breakout and continue upward if the general market is bullish. If bearish, the price may stop at the major bull trendline or weekly support.
Generally, with descending triangles major trend continuation is expected.
Corrections are welcomed :)
Note: for educational purpose only
Downward Breakout: Price may give false/premature breakout and continue upward if the general market is bullish. If bearish, the price may stop at the major bull trendline or weekly support.
Generally, with descending triangles major trend continuation is expected.
Corrections are welcomed :)
Note: for educational purpose only
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