UltraTechCemet-Elliott Wave Expanding Triangle Breakout: Weekly
UltraTech Cement (Elliott Wave Expanding Triangle - Possible Breakout), Weekly chart:
A successful breakout need either one extraordinary big candle with large volume or at least 3 candles of regular size with normal-regular volume.
Here as chart is weekly one, so breakout need 3 WEEKLY candles of regular size with normal-regular volume; raised above the resistance line of the triangle.
Further, to confirm the breakout .....
(1) volume of 3 WEEKLY candles' those raised above the resistance line of the triangle should either be increasing; OR
(2) combined volume of at least 3 WEEKLY candles' those raised above the resistance line, should be large comparing to previous 5 to 7 candles.
OR, alternatively at least one candle raised above the resistance line of the triangle should be extraordinary big with large volume.
A successful breakout need either one extraordinary big candle with large volume or at least 3 candles of regular size with normal-regular volume.
Here as chart is weekly one, so breakout need 3 WEEKLY candles of regular size with normal-regular volume; raised above the resistance line of the triangle.
Further, to confirm the breakout .....
(1) volume of 3 WEEKLY candles' those raised above the resistance line of the triangle should either be increasing; OR
(2) combined volume of at least 3 WEEKLY candles' those raised above the resistance line, should be large comparing to previous 5 to 7 candles.
OR, alternatively at least one candle raised above the resistance line of the triangle should be extraordinary big with large volume.
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