Two equivalent tops indicates double top. Their conditions
1. Duration between tops should be 1 month
2. Volume should be high at second neck
It consist of two shoulders and a head.
Conditions:
1. Identify shoulder-head-shoulder (head should be tallest)
2.High volume on Left shoulder.
3. Low volume on right shoulder
duration: 3 months
Hold short position
The price pattern forms a cup shape.
Conditions:
1. Cup shape should be visible
2.Correlation of market movement should be low
3. low volume at the bottom/ cup base
duration- 2 to 3 years
Create LONG position
price pattern forms a flag shape.
Conditions:
1. Stepper pole of 75 to 80 degrees should be spotted.
2. Rectangular flag (horizontal movement) should be there
3. Volume should be low during flag.
duration 3-7 days
Create long position on breakout.
The price pattern resembles like a triangle.
conditions:
1. identify A,B,C,D,E (triangular structured waves).
2. Connect the tops.
3. Connect the bottoms
4. Breakout is expected at 70% of total triangle area.
duration: 45 days
hold LONG position