Get started

Trianglebreak

USDJPY Triangle Formation? 03.02.2023Market News - The most Important release of the month 15:30 Non-Farm Employment Change and Unemployment Rate Due to the fact that the investors are waiting for the important figures during the afternoon session we do not expect high volatility now. There is a triangle formation for this pair. if it breaks then the market will move in one direction either up or down. Traders have to be careful not to take positions too soon but let the market settle after the announcement. Otherwise the market might show a false break upwards or downwards. Stop levels should be 129.2 for the upwards move. If it is a downward move then should be 128.0.
by Stuart_Cowell
2
Tata Chemicals daily report shows triangle pattern breakout.Tata Chemicals on Daily Chart: Triangle Pattern Breakout: The stock has seen a triangle pattern breakout on the daily time frame, which may indicate a potential price move in either direction. Mean (EMA) Diversion on Hourly time frame: The mean (EMA) has diverged on the hourly time frame, which may indicate a change in the trend of the stock price. Resistance/Target: The stock may face resistance at levels of 1060, 1108, and 1176. These levels may act as a barrier to the stock price's upward movement. Support: The stock may find support at levels of 948 and 912. These levels may act as a floor for the stock price and may provide some stability during times of market volatility. In conclusion, the daily report suggests that the stock may experience some price volatility in the near term, with potential for both upward and downward price moves. As always, it is recommended to monitor the stock closely and consider risk management strategies when investing.
NSE:TATACHEMLong
by Wolfout_Traders