Is is a triangle chart pattern where you will see the formation of higher highs and lower lows. On chart, the pattern looks like the reverse of a symmetrical triangle pattern. It is also referred as broadening formation or megaphone pattern.
![Broadening Formation Expanding Triangle Megaphone]()
Below is the Nifty Futures chart, just check out how many expanding triangle patterns we have seen in trading recently.
Above are a few I could easily identify. With so many "false" breakouts and breakdowns during intraday and positional trades, you will know the reason why trading has been tough for the past few days.
I see many bloggers/websites mentioning about this pattern. But I doubt if anyone can really trade or identify this formation. People recognize this pattern only after it has done the damage!. Hindsight analysis is always easy.....like I have done above!
Cheers :(
Hi Anuj,
ReplyDeleteHow many ways to see the same chart :))
I posted a symmetrical triangle out of the same chart(but 60 min).Guess its all our bias that makes us see what we want to see.
Cheers:)
Hi AAR VEE
ReplyDeletelet me see your blog.
Yeah you are right "its all our bias that makes us see what we want to see"
What is wrong with OJN feed? When I click OJN blog from here, I cannot access the blog straightaway. May be the blog feed is disabled, can you check that?
Thanks for giving company at this hour!
Cheers :)
Hi Anuj,
ReplyDeleteGood Morning. To Access OJN remove /rss at the end of http://o-j-n.blogspot.com/.
Now your link is having http://o-j-n.blogspot.com/rss, which seems not working.
@ Prabakar
ReplyDeletehi, thank you for suggestion.I tried that before, but the "blog list" gadget modifies the url to http://o-j-n.blogspot.com/rss .May be because it uses rss to update the "blog roll". I suspect ojn has disabled it's feed. This problem started after mok went for a break. OJN team member could help maybe...
Anuj & blog mates ,
ReplyDeletegood morning.
Anuj Good morning,
ReplyDeleteWell said *
People recognize this pattern only after it has done the damage!. Hindsight analysis is always easy...
Anuj Bhai Good morning.
ReplyDeleteGood morning friends.
ReplyDeleteGood morning all :)
ReplyDelete@ Anuj ,
ReplyDeleteNifty SAR triggered,
SL is 5572/ 5611 or else ??
@ Anuj ,
ReplyDeleteNifty SAR triggered,
SL is 5572/ 5611 or else ??
Thanks in advance :))
@abhishek
ReplyDeleteyes 5572 will do as SAR, but it should go below 5400 pivot as well
Anuj many thanks.
ReplyDeleteHi Anuj,
ReplyDeleteLRE -- can take as 5472?
Yes Surendra 5472 or 5500, higher the better !
ReplyDeletePosting from a different computer, stay hedged or short,
ReplyDeleteThe effect of Tsunami of Japan will be quite bad as it will affect all the countries around pacific ocean.
@ Anuj ,
ReplyDeleteThank you .
Anuj, Good morning!
ReplyDeleteThe blog link not updating problem will be solved by removing and including again the blog in the blog list.
Its sometimes blogger template script problem,
More than blackforest, now it is BlackCurrent + BlueBerry Mix. So nice.
Repeating comment in new post also.
Your approach is refreshing.
Keep smiling.