Re: Time to Stick my Neck Out ,Nifty 7300
Yes it's a rising flag which is very bearish most of the time. However, a breakout above such a negative formation will show that momentum is very high and hence may give a parabolic rally. In case of a positive breakout, the upper boundary will be our stop. In case price comes inside the upper channel line after breaking out, most probably it'll form a Bearish Wolfe Wave.
Regards,
--Ashish
Raising flag is bullish ? I think its Bearish
Naresh
Naresh
Regards,
--Ashish