BHP Group on the Uprise..we see the stock trading at a good support level and the RSI in a highly oversold region and forming a Falling Wedge Pattern. So I would certainly wait for the breakout to happen from the pattern and trade the stock in lots for a good profit potential
1- Trend analysis:
Higher prime numbers mean we are in an uptrend. When the bands are moving upward direction, the market has a Bullish Direction.
Lower and lower prime numbers mean we are in a downtrend. (If the bands are moving Downward direction)
2- Volatility:
Narrower bands mean stock price is less volatile.
Wider bands indicate share price is volatile.
3-...
In this special idea I apply the AriasWave methodology to a stock by incorporating the main pattern in Global Markets.
See related idea below for the DOW JONES to understand this pattern. I will post an idea shortly for the FTSE 100.
Using the AriasWave framework and the main pattern which a TYPE-2 ZIG ZAG I apply careful and precise wave analysis to this...
Trading View can sometimes be frustrating when you use the timescales on the bottom left it automatically changes the length of your candles so I tend to simply set my candle I want to look at and scroll in and out with my mouse.
