Broadening Descending Wedge Setup?

Notes:

• BankNifty seems to be forming a descending broadening pattern.
  
• Statistically (Taking Thomas N Bulkowskis book as a reference) an upper breakout is preceded by a partial decline (as in this case) around 87% of the time.
  
• Target in case of a breakout on the upper side would be the top of the pattern which is 35650.
  

Please note - Not a SEBI Registered Advisor/Analyst. Only for Educational Purposes. Please Consult your financial advisor before you take any action.

The book came highly recommended by a community member. Its really interesting if you have an interest towards statistics.

Zlecenie aktywne:

Looking good so far. Hoping to hit the target by the next few sessions.

Zlecenie zamknięto ręcznie:

Missed target by around 0.2%