SymmetricalTriangle Breakout GALAXYSURF

#Symmetrical #Triangle #Breakout in #GALAXYSURF (Galaxy Surfactants Ltd). Its #Outperformed #Nifty in current scenario.

What Is a Triangle?

A #triangle is a #chart #pattern, depicted by drawing trendlines along a converging price range, that connotes a pause in the prevailing trend. Technical analysts categorize triangles as continuation patterns.

#Symmetrical #Triangle: A symmetrical triangle is composed of a diagonal falling upper #trendline and a diagonally rising lower trendline. As the price moves toward the apex, it will inevitably breach the upper trendline for a breakout and uptrend on rising prices or breach the lower trendline forming a breakdown and downtrend with falling prices.

Traders should watch for a volume spike and at least two closes beyond the trendline to confirm the break is valid and not a head fake. Symmetrical triangles tend to be #continuation break patterns, meaning that they tend to break in the direction of the initial move before the triangle formed. For example, if an uptrend precedes a symmetrical triangle, traders would expect the price to break to the upside.

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.