Trading With Chart Pattern
- Thread starter soumya_b
- Start date
dear friend,
although it is not a very classic inverted H&S pattern, yet we can call it one because volume is decreasing gradually as right soulder is forming. you have said that ascending triangle is forming; what i have read is ascending triangle forms in an uptrend and not in a downtrend. please clarify if i am missing something somewhere!
regards,
nick
although it is not a very classic inverted H&S pattern, yet we can call it one because volume is decreasing gradually as right soulder is forming. you have said that ascending triangle is forming; what i have read is ascending triangle forms in an uptrend and not in a downtrend. please clarify if i am missing something somewhere!
regards,
nick
Dear nick
i wonder how would u call that a head and shoulder
(h and s without left shoulder).As far as ur view on ascending triangle, you are absolutely correct accordin to theory.Theory says that ascending triangle is an continuation pattern.But there are instances when it also becomes reversal pattern.for eg head and shoulders are theorotially reversal patterns but do u know there is one such thing as head and shoulder continuation patters? yes there is h and s continuation.(u can see them clearly illustrated on ashwini gujral's book on chartpatterns.)
see the link provided below
http://stockcharts.com/school/doku...._analysis:chart_patterns:ascending_triangle_c
The CHART PATTERNS ARE NOTHING BUT THE COMBINATION OF SUPPORTS AND RESISTANCE LINES. so no need to argue, we just need to follow the support and resistance only.
i wonder how would u call that a head and shoulder
(h and s without left shoulder).As far as ur view on ascending triangle, you are absolutely correct accordin to theory.Theory says that ascending triangle is an continuation pattern.But there are instances when it also becomes reversal pattern.for eg head and shoulders are theorotially reversal patterns but do u know there is one such thing as head and shoulder continuation patters? yes there is h and s continuation.(u can see them clearly illustrated on ashwini gujral's book on chartpatterns.)see the link provided below
http://stockcharts.com/school/doku...._analysis:chart_patterns:ascending_triangle_c
The CHART PATTERNS ARE NOTHING BUT THE COMBINATION OF SUPPORTS AND RESISTANCE LINES. so no need to argue, we just need to follow the support and resistance only.
Last edited:
Dear nick
i wonder how would u call that a head and shoulder (h and s without left shoulder).As far as ur view on ascending triangle, you are absolutely correct accordin to theory.Theory says that ascending triangle is an continuation pattern.But there are instances when it also becomes reversal pattern.for eg head and shoulders are theorotially reversal patterns but do u know there is one such thing as head and shoulder continuation patters? yes there is h and s continuation.(u can see them clearly illustrated on ashwini gujral's book on chartpatterns.)
see the link provided below
http://stockcharts.com/school/doku...._analysis:chart_patterns:ascending_triangle_c
The CHART PATTERNS ARE NOTHING BUT THE COMBINATION OF SUPPORTS AND RESISTANCE LINES. so no need to argue, we just need to follow the support and resistance only.
i wonder how would u call that a head and shoulder
(h and s without left shoulder).As far as ur view on ascending triangle, you are absolutely correct accordin to theory.Theory says that ascending triangle is an continuation pattern.But there are instances when it also becomes reversal pattern.for eg head and shoulders are theorotially reversal patterns but do u know there is one such thing as head and shoulder continuation patters? yes there is h and s continuation.(u can see them clearly illustrated on ashwini gujral's book on chartpatterns.)see the link provided below
http://stockcharts.com/school/doku...._analysis:chart_patterns:ascending_triangle_c
The CHART PATTERNS ARE NOTHING BUT THE COMBINATION OF SUPPORTS AND RESISTANCE LINES. so no need to argue, we just need to follow the support and resistance only.
i am not arguing. as the left S was not prominent, i said not a classic H&S pattern. you are right when you say CHART PATTERNS ARE NOTHING BUT COMBINATION OF SUPPORTS AND RESISTANCES.
we need to follow support & resistance only keeping a close eye on price.
regards,
nick
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