Amit_Ghosh

[Positional] Siemens Analysis on D frame - Bounce Theory

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NSE:SIEMENS   SIEMENS INDIA LTD
In D timeframe, Siemens is in a downtrend. In the previous examples, We have used our own Bounce indicator or ZigZag indicator to identify the swing chart.

But, it is always better to draw the swing chart by hand. It lets us assign an emotional value towards each candle that is formed. Anyways, that's what price action is all about!

As we can see, the candle which we declared as both lower high and lower low is definitely a swing low but it is not a swing high! But, if you see the distribution of the preceding and succeeding candles, the psychology behind the candle is quite fascinating!

First of all, it is a green candle showing strength after a huge fall (as you can see from the huge tail of the green candle); the next candle is an inside bar which shows compression! The high of the previous candle of an inside bar i.e. the green candle is always an important mark and does definitely fill the purpose of Lower High.

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