Banknifty analysis - logic and plan
EXPLANATION : This is a 15 min time frame chart of BANKNIFTY . It has been in a consolidate for days and has formed Symmetrical triangle pattern . If give a strong breakout and broke its trendline with volumes and has retested the same. I am bullish on BANKNIFTY . If give a strong breakdown and broke its trendline with volumes and has retested the same , I am bearish on BANKNIFTY . Enter as per your setup .
A symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend , while a breakout from the upper trendline indicates the start of a new bullish trend .
If you like the analysis give a Like // Follow for more updates , let me know in comments below :)
A symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend , while a breakout from the upper trendline indicates the start of a new bullish trend .
If you like the analysis give a Like // Follow for more updates , let me know in comments below :)
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.