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Price pattern breakouts
Previously we have learned several swing trading strategies with the help of indicators. But 'Price' is considered supreme in technical analysis. So let us learn a few price pattern breakout strategies helpful in swing trading.
Price patterns are actively traded by traders in all time frames, such as head & shoulders, wedges, flags, triangles, etc give excellent swing trading opportunities. You can use these patterns with other indicators as a confirmatory tool. However, be wary of not using too many indicators as it might lead to conflicting signals.
The above price chart of Motilal Oswal Financial Services (NSE: MOTILALOFS) shows a beautiful symmetrical triangle pattern breakout at around ₹650 levels. The stock has given more than 50% returns since then.
Rounding Bottom pattern visible in Indo Count Industries (NSE: ICIL)