This weekly chart of Rico Auto illustrates how structure can evolve over time and why rigid bias around a single pattern can be misleading. Price initially respected a clear descending trendline, forming a classic descending triangle and eventually breaking down below the support zone. Instead of continuing in a straight-line downtrend, the market absorbed that move and began to build a broader basing structure.
Over the following swings, price developed an inverted head and shoulders formation, highlighted here with the white structure, right inside and just below the prior breakdown area. As the pattern matured, price not only reclaimed the prior horizontal zone but also pushed back toward the original red counter-trendline that once acted as dynamic resistance. The same trendline that confirmed the initial triangle breakdown is now being revisited, showing how former breakdown structures can later turn into key decision zones rather than one-way signals.
This chart is shared purely to study how multiple patterns can co-exist and morph on higher timeframes:
-A descending triangle that initially breaks to the downside
-A subsequent inverse head and shoulders basing pattern
-A later reclaim of the old breakdown area and retest of the descending trendline
Disclaimer
This post is for educational and illustrative purposes only and is not investment, trading, or financial advice. Please do your own research and consult a registered financial professional before making any trading or investment decisions.
Over the following swings, price developed an inverted head and shoulders formation, highlighted here with the white structure, right inside and just below the prior breakdown area. As the pattern matured, price not only reclaimed the prior horizontal zone but also pushed back toward the original red counter-trendline that once acted as dynamic resistance. The same trendline that confirmed the initial triangle breakdown is now being revisited, showing how former breakdown structures can later turn into key decision zones rather than one-way signals.
This chart is shared purely to study how multiple patterns can co-exist and morph on higher timeframes:
-A descending triangle that initially breaks to the downside
-A subsequent inverse head and shoulders basing pattern
-A later reclaim of the old breakdown area and retest of the descending trendline
Disclaimer
This post is for educational and illustrative purposes only and is not investment, trading, or financial advice. Please do your own research and consult a registered financial professional before making any trading or investment decisions.
📊Swing & positional equity research with Buy, Sell and Hold recommendations.
Contact
📞WhatsApp: wa.me/919455664601
💬Telegram DM: t.me/Apoorv_HH
📢Join Telegram channel: t.me/hashtaghammer
Apoorv Dubey|SEBI RA INH000030287
Contact
📞WhatsApp: wa.me/919455664601
💬Telegram DM: t.me/Apoorv_HH
📢Join Telegram channel: t.me/hashtaghammer
Apoorv Dubey|SEBI RA INH000030287
การนำเสนอที่เกี่ยวข้อง
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน
📊Swing & positional equity research with Buy, Sell and Hold recommendations.
Contact
📞WhatsApp: wa.me/919455664601
💬Telegram DM: t.me/Apoorv_HH
📢Join Telegram channel: t.me/hashtaghammer
Apoorv Dubey|SEBI RA INH000030287
Contact
📞WhatsApp: wa.me/919455664601
💬Telegram DM: t.me/Apoorv_HH
📢Join Telegram channel: t.me/hashtaghammer
Apoorv Dubey|SEBI RA INH000030287
การนำเสนอที่เกี่ยวข้อง
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน