NeeteshJain

Educational 16: Bullish Candlesticks

BSE:NMDC   NMDC LTD
It is been observed that there are some candlesticks pattern which describes the sentiment and movement of buyers and sellers in the market. It is observed that when a Green Bullish Candle with no to little wick in bottom found after a downtrend indicates a buyers come back with full dominance over price action as there will be no lower wick which means no selling pressure and just buyers dominance. This signals a buying opportunity in the market.

Kindly follow the below basic criteria to get good results,

A Green Bullish Candlestick with no lower wick shall come

1. After a Downtrend
2. After a Doji or Exhaustion Candle to downside
3. After Red candle
4. At major Support and Resistance


Kindly share your opinion or example in the below comments in order to confirm the strength of the candlesticks

Regards,
Neetesh Jain