NIFTY50.....How to measure a price target for a wedgeNifty 50 IndexNSE_DLY:NIFTYruebennaseHello Traders, something interesting happened on Thursday during the session. I have drawn a "wedge" at the chart to visualize the pattern I recognized. I set some numbers to the pattern and I count five moving inbetween the wedge. After the last number,. Price bounced to the upside but failed to make a new high and so price start a wave of selling pressure. On it 's way down following behavior is to watch. Once a wedge is going to be dissolved, following measurement to determine a price target for the decline is to apply. The rectangles with the green background show two ways to determine the target. The first on eis you measure from the top of the pattern (i. e. Wedge) and take the widest distance from the low of the pattern to the high off the rebound! This will be the first price target. The second way to measure is as to follow. Copy the rectangle and prefer it to the point, were the wedge leave the pattern to the downside; means the last candleAND the point were the lower boundary is below the threshold. The lower boundary iof the rectangle is your second price target. This is just an approaching the approximate price target. As to see, this time it worked out well and price target has been hit by just some tics below the lower boundary of the rectangle! A smart way to determine a price target. But keep in mind, that more touchpoints of the wedge need to be necessary for the wedge. The more often it will be touched, the better it is. I have observed, that 5-6 points of contact point are well. That's it for a quick note today! Have a great Friday..... Ruebennase Please ask or comment as appropriate. Trade on this analysis at your own risk