During 15th April we can see that the volume traded iv very high (Higher than the average volume). But the body of the candle is is small compared to the volume traded which is anomaly. And we can observe that this is happened at the top of a bullish trend. What is actually happening is that the market has reached a price at which further effort does not result in higher prices, as each wave of new buyers is met with longs selling out at this level and taking their profits, 'off the table'. So there is no sustained move higher in price. So to book their profits they try to push the price higher. The price never rises as the longs continue to liquidate and take their profits
So observing the huge volume traded I guess there is a possible reversal and we can expect a short pullback !
Vibhushitkumar
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Morning star candle in uptrend remarks reversal in trend? pls confirm
prasathrnm
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@Vibhushitkumar, Morning star candle is viewed as bullish reversal pattern, occurs after downtrend.
In above 2 hour chart, two bearish candle followed by morning star so according to this next bullish pattern should form according to my view.
ashasasi2001
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Amazing Guru
prasathrnm
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@ashasasi2001, Don't enter the trade immediately after opening the market, entry should made only when price retrace to trend line and need to form bullish reversal pattern & engulfing pattern.
Why this much rule?
Because after touching trend line it may break it.
Always be safest traders:)
r.sasiganapathy
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@prasathrnm, Superb Sir ,It was amazing prediction
So observing the huge volume traded I guess there is a possible reversal and we can expect a short pullback !