Updated: Jun 8, 2021
Stock chart patterns are an important trading tool that should be utilised as part of your technical analysis strategy. From beginners to professionals, chart patterns play an integral part when looking for market trends and predicting movements. They can be used to analyse all markets including forex, shares, commodities and more.
Trading chart patterns often form shapes, which can help predetermine price action, such as stock breakouts and reversals.
Recognising chart patterns will help you gain a competitive advantage in the market, and using them will increase the value of your future technical analyses. Before starting your chart pattern analysis, it is important to familiarise yourself with the different types of trading charts.
As an example, here a Ascending Triangle Pattern Breakout spotted in Daily Chart of Grasim Industries on 4th June.
GRASIM IND (CMP 1503): Grasim Industries given Ascending Triangle pattern breakout on Daily charts.
Trading or Investing in financial markets involves risk of loss. Above Article is only for education purpose & it is not a recommendation for Buy or Sell any financial instruments.