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Ishan Jindal Profile picture
Ishan Jindal
@ishan_jindal10
25. Stock. Charts. Derivatives. CFA & CMT Level 1 Cleared. Tweets only for educational purpose.
Aug 16, 2020 • 7 tweets • 6 min read
Weekend Learning Thread : Rectangle or Range or Box Pattern

-The pattern is formed within a horizontal support line below and resistance line above.

-Minimum two touches on each side is required for the pattern to be valid.

-It can also be seen as a horizontal channel.

(1/7) Image -As shown in the above image, shortfall is seen majority of the times which helps to identify the breakout side.

-For instance, the prices touched the resistance but couldn't come down to support line. This implies the sellers are weak and buyers are pushing the price up.

(2/7)