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Tail and look at different things than the long term traders There're 4 tails at the value high and, 2 tails are detected at value low for a major channel . When the price is higher above the value high, We found the tail as price reject and reversal. For instance, you can observe the trend is up before the tail(1) created. U-Turn has been seen after the tail formed. The same thing happened for the tail (1) to (4) in the chart. Vice-versa, Trend is turned up after creating a tail at value low. Conclusion: Find some stocks which usually create TAILS and observe it. And You can also comment or PM me if you find the stocks. I will lead for trade setup on it.
NSE:JUBLFOODEducation
by Trade-Technique
10
Tails and When to use it?TAIL, This is a reversal of prior trend pattern that shows up as one candle reaching out well beyond normal price action. Sometimes referred to as a Hammer which is used to spot signs of a reversal indication . For Example, 1 Tail at a value low and Psychologically, this can signal exhaustion in the selling mentality and a developing appetite for long exposure among traders. Being able to read this market behavior will add value to a trader’s analysis. Furthermore, the same sort of reversal in emotion can be seen in the other direction. Vice versa, 3 Tails at Value high and seen price rejection and change in direction. The " volume " surged 2x from average volume when TAIL is created. 3 Tails at " Value High " of the channel and 1 Tail at the " Value Low " of the channel.
NSE:SBINEducation
by Trade-Technique
9