IDFC FIRST BANK - BREAKOUT / BREAKDOWN
You guys are smart if you really know how to trade this Pattern !
A rectangle chart pattern forms during a period of consolidation, where the price moves between parallel support and resistance levels. This pattern indicates indecision in the market, with buyers and sellers in equilibrium. The price bounces between these horizontal levels multiple times, creating a rectangular shape. Traders look for a breakout from this range to signal the next move. A bullish breakout occurs above the resistance, while a bearish breakout happens below the support. Volume typically decreases during the formation and spikes during the breakout, confirming the pattern’s validity.
Clear Accumulation/Distribution Happening, pay attention even if you dont want to trade it's fine !
A rectangle chart pattern forms during a period of consolidation, where the price moves between parallel support and resistance levels. This pattern indicates indecision in the market, with buyers and sellers in equilibrium. The price bounces between these horizontal levels multiple times, creating a rectangular shape. Traders look for a breakout from this range to signal the next move. A bullish breakout occurs above the resistance, while a bearish breakout happens below the support. Volume typically decreases during the formation and spikes during the breakout, confirming the pattern’s validity.
Clear Accumulation/Distribution Happening, pay attention even if you dont want to trade it's fine !
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