What Is a Piercing Pattern?
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A piercing pattern is a two candlestick price pattern that marks a potential short-term reversal from a downward trend to an upward trend. This candlestick pattern is applicable in any time frame but produces better results on a higher timeframe. The pattern includes the first session...
👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa...
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👑 Strategy :
- Parallel channel
- Higher lows inside the channel
- respecting a good trendline supportive one inside the parallel channel
- good breakout with good candle and volume too
- gap not sustained and then accumulated there and now a breakout = good...
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🔥 Self-explained chart
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money,...
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Self-explained chart: Multiple patterns educational video
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset...
In this video, I explain why I'm bullish on the Nifty and I'm playing by selling puts until momentum comes, wherein I'll add futures positions as well!!
Today We saw a mixed day, by EOD we saw the rejection from upside and it is reflected on the daily chart.
Our levels worked very well today too.
What Next?
Today it has formed a shooting star kind of candle but not perfect, basically we consider this candle as sign of reversal when market traded near to the resistance zone.
But nowadays sentiment is positive...
Bhel Looks Portfolio Stock Because
• Positive Divergence (RSI)
• Timing wise already consumed 12 years which is more than 7-8 years rally from bottoms of 11 to 390-400 zone going into 2007-2008 Financial Crisis Period
• Key Reversal Candle from lows of 40’s is confirmed recently.
Short term Trading Strategy
Plan A -
Buy above 61 for 77-80 Target zone
...
