ATMASphere Aug 2014

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2. Symmetrical Triangles: These are very similar to These are very similar to pennants, are formed by 2 converging lines. These have lengthy formation periods. These triangles are also sometimes called “Coils”, which means that like a coil, price is consolidating and tightening to finally open up towards the trend. 3. Descending Triangles: The pattern will have lower highs (resistance) and a flat bottom line (support). This pattern may have 2 or more lows near the support line. Volume contracts during the triangle formation and increases at the time of breakout. This is more accurate at the times of Downtrend , when the price is moving lower but find support at some exhaustion point or pivot point and from there it consolidates and brings more sellers in the market and finally break towards the trend, the breakdown moves are usually fast and furious after the breakdown. A close below is preferred than a penetration of the support line for taking a trading decision. AUGUST <strong>2014</strong> ATMASPHERE | 6
Volume Behavior in Flags: A flag is a small rectangular pattern which is formed against the trend. If the trend is up, the flag forms in a downward sloping manner. If the trend is down, the flag forms in an upward sloping manner. Volume is an important component in a flag pattern. The flag pattern should have a flag pole, which should form with an increase in volume and should contract during the flag formation and Increase at the time of the breakout. Ananth Madhav, A CMT aspirant, is a full time trader having 6 years of experience, teaches TA, core member of ATMA Hyderabad which is to be launched soon. One can reach him on ananthmadhav@live.com AUGUST <strong>2014</strong> ATMASPHERE | 7
Page 2 and 3: CONTENTS Letter from the President
Page 4 and 5: EDITOR’S NOTE In this issue - 1.
Page 8 and 9: 5 Price action tips that will make
Page 10 and 11: Tip # 3. Look for wide range candle
Page 12 and 13: Rajat Dutta is a system designer an
Page 14 and 15: 5. High quality trades, many times,
Page 16 and 17: method that we will follow. Now why
Page 18 and 19: Understanding Market Profile Introd
Page 20 and 21: Hi, I often go with nick name Pit T
Page 22 and 23: Within an average period of less th
Page 24 and 25: World's FIRST E-Library of Technica
Page 26 and 27: AUGUST 2014 ATMASPHERE | 26
Page 28: AUGUST 2014 ATMASPHERE | 28

ATMASphere Aug 2014

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