Refex "Right Angled Descending Wedge"
A right-angled ascending broadening wedge is a downward reversal pattern. The pattern is formed by two diverging lines, the support is a horizontal line and the resistance is an oblique bullish one, so it is an inverted descending triangle
Currently, Refex is in the range of Rs 144. If the pattern continues, the price of Refex might reach the resistance level of Rs 210 If the trend reverses, then the price of Refex may fall to Rs 125.
Price of Refex had four times retested the resistance level So,We can expect the price to break through the resistance level the next time.
Trading Level ✅
Entry Point - 145 ( Breakout region)
Stop Loss - 125 (Previous Swing Low)
Target - 210 (Derived from pattern range)
Happy Trading
A right-angled ascending broadening wedge is a downward reversal pattern. The pattern is formed by two diverging lines, the support is a horizontal line and the resistance is an oblique bullish one, so it is an inverted descending triangle
Currently, Refex is in the range of Rs 144. If the pattern continues, the price of Refex might reach the resistance level of Rs 210 If the trend reverses, then the price of Refex may fall to Rs 125.
Price of Refex had four times retested the resistance level So,We can expect the price to break through the resistance level the next time.
Trading Level ✅
Entry Point - 145 ( Breakout region)
Stop Loss - 125 (Previous Swing Low)
Target - 210 (Derived from pattern range)
Happy Trading
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관련 발행물
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.