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Blue star seems triangle breakout

Discussion in 'Technical Analysis' started by aveerareddy9, Oct 2, 2012.

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  1. aveerareddy9

    aveerareddy9 New Member

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    Hi All,

    Blue star seems breakout triangle attached in the screen below.

    Previous quater results also good.The main concern is low volumes.

    YOY : 109.2 %

    BLUE STAR ENGINEERING 7,047 98 7,314 205 3.8% 109.2%

    thanks
    veeru
     

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    aveerareddy9, Oct 2, 2012
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  2. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Ahead is a strong resistance area for script from 190-210, so better to wait & watch.
     
    sanjay_sansanwal, Oct 2, 2012
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  3. shabbir

    shabbir Administrator Staff Member

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    Yes resistance around 200 means it is very high risk trade with less reward possibility.
     
    shabbir, Oct 2, 2012
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  4. aveerareddy9

    aveerareddy9 New Member

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    Thanks Sanjay & Shabbir for the reply....

    The triangle drawn is correct?
     
    aveerareddy9, Oct 2, 2012
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  5. sujan4bw

    sujan4bw Member

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    Trend line should be drawn on highs and lows and see if it forms triangle pattern.

    you can search forum for many examples.
     
    sujan4bw, Oct 2, 2012
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  6. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Nope, plz choose at least 2 previous high to draw trend line for down trend and for uptrend choose 2 previous bottom.
    Plz have a look on attached chart it can help u to draw trend line.
    If need more clarification then feel free to ask.
     

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    sanjay_sansanwal, Oct 2, 2012
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  7. ravirajpr

    ravirajpr Responder

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    Breakout pattern trade of Blue Star that I closed recently.
     

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    ravirajpr, Sep 18, 2014
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  8. shabbir

    shabbir Administrator Staff Member

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    But I see it coming down now. Which breakout you are referring to.
     
    shabbir, Sep 19, 2014
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  9. ravirajpr

    ravirajpr Responder

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    Sorry should have been more specific.
    I refer to the blue arrow @290 on 31st July prior to the breakout and closed the trade on 17th Sep.
     
    ravirajpr, Sep 19, 2014
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  10. shabbir

    shabbir Administrator Staff Member

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    And people say you cannot time the market. Those are the words from people who don't know how to do it and at times I just smile at such remarks.
     
    shabbir, Sep 19, 2014
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