#doublebottom #pattern #Breakout (trend reversal) Under #ParallelChannel at #westlife (Westlife Development Ltd) #weekly #chart.
BSE: 505533 / NSE : WESTLIFE
In the context of technical analysis, a channel occurs when the price of an asset is moving between two parallel trendlines. The upper trendline connects the swing highs in price, while the lower trendline connects the swing lows. The channel can slant upward, downward, or sideways on the chart.
Types of Channels
A channel consists of at least four contact points because we need at least two lows to connect to each other and two highs to connect to each other. Generally speaking, there are three types:-
1. Channels that are angled up are called ascending channels.
2.Channels that are angled down are descending channels. Ascending and descending channels are also called trend channels because the price is moving more dominantly in one direction.
3.Channels in which the trendlines are horizontal are called horizontal channels, trading ranges, or rectangles.
ONLY FOR #educational
NOT SEBI REGISTERED. #LEARNEARN (DONT TRUST ANYONE)
#nifty50 #sharemarket #BREAKOUTSTOCKS #Multibagger #sharemarket #sharemarketindia #sensex #technicalanalysis #kukiinvest #Chartanalysis #headandshoulders #doubletop #doublebottom #parallelchannel #relativestrength
DISCLAIMER: I am not SEBI registered analyst. All posts are for educational purpose only. I am not responsible for your any loss or profit. Consult your adviser before taking any trade. I help people to learn technical analysis & charts reading.
BSE: 505533 / NSE : WESTLIFE
In the context of technical analysis, a channel occurs when the price of an asset is moving between two parallel trendlines. The upper trendline connects the swing highs in price, while the lower trendline connects the swing lows. The channel can slant upward, downward, or sideways on the chart.
Types of Channels
A channel consists of at least four contact points because we need at least two lows to connect to each other and two highs to connect to each other. Generally speaking, there are three types:-
1. Channels that are angled up are called ascending channels.
2.Channels that are angled down are descending channels. Ascending and descending channels are also called trend channels because the price is moving more dominantly in one direction.
3.Channels in which the trendlines are horizontal are called horizontal channels, trading ranges, or rectangles.
ONLY FOR #educational
NOT SEBI REGISTERED. #LEARNEARN (DONT TRUST ANYONE)
#nifty50 #sharemarket #BREAKOUTSTOCKS #Multibagger #sharemarket #sharemarketindia #sensex #technicalanalysis #kukiinvest #Chartanalysis #headandshoulders #doubletop #doublebottom #parallelchannel #relativestrength
DISCLAIMER: I am not SEBI registered analyst. All posts are for educational purpose only. I am not responsible for your any loss or profit. Consult your adviser before taking any trade. I help people to learn technical analysis & charts reading.