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Hanging Man

#SIEMENS Rising wedge & hanging man formation Siemens on weekly timeframe is forming a rising wedge formation. It is also formed at the top of the rising channel in which Siemens has been trading from quite some time, generally such formation are formed as ED formation in EW and can be a signal of truncated 5th in its impulsive wave upmove. Although, this post doesn't deal in great detail with EW wave marking but an indicative wave counts are marked as well. Weekly chart is also showing a negative divergence and longs need to be cautious here as I have anticipated it earlier as well (link in related idea section) and since then it hasn't moved up much on upper side. On daily time frame, the script has formed a "Hanging Man", which is also a bearish reversal pattern and most importantly the candlestick pattern has appeared at ATH. Invalidation level for this pattern is any closing above the high of the hanging man candle and if price start sustaining below and closes below this candle, then it will be a confirmation of this pattern which can drag the price downside.
NSE:SIEMENSShort
by aktradelearning
Mentorship InstaView 08 Sept’21: Banks save the Day 
Nifty View: Intraday volatility stays on the higher side as the benchmark Nifty index oscillated within a day’s range of 125 points. At a close of 17,386, it was a flattish positive close from the index, up just 10 points. On the daily time frame, we have clear signs of directional uncertainty thanks to formation of Dojis or small bodied candles. If banks continue to support the index like they did today, then a break down is unlikely and the index might as well inch further up towards a new life high. So continue to focus primarily on the private sector banks. Maintain a cautiously bullish stance on the overall market. Watch the video for a more detailed analysis. Thank you for following my work and please feel free to share your thoughts and suggestions.         Trade Well. Trade Wise. 
NSE:INFY1!
by Abhijit_Paul
Nifty: Finally some Drama Nifty finally faces some intra-day selling pressure as the index failed to hold onto the day’s strong opening. There was some degree of selling which was again countered by a sharp intra-day bounce back to end the day flat. Now if we look closely, we will observe that since 22nd Dec’20 the index had managed to bounce back from its intra-day weakness on 5 instances. And post that bounce, these lower shadows or lows were never breached - such has been the strength of the underlying trend. So a break below the recent low at 14,476 will be the very sign of any serious price weakness, if at all. Till then make use of the momentum and look for upside breakouts. Trade Well. Trade Wise.
NSE:NIFTY1!
by Abhijit_Paul
Updated: Upside gap two crows followed by shooting star This is an updated chart of NIFTY 50 (with reference to my previous chart) Upside gap two crows 16 April 2020: It was a bullish candle. (Continuing the bull trend) 17 April 2020: Gap up opening but ended the day with a bearish hanging man pattern. 20 April 2020: Opening was at 9390, i.e more than closing of day 2. It made a bearish engulfing pattern. 22 April & 23 April 2020: Gap was filled (I referred it as retracement in my previous post) 24 April 2020: Shooting star pattern Price Action Formation of rising wedge pattern R1 & S1 are short term support & resistance. (Based on Fibonacci) Conclusion Trends look negative in the short term.
NSE:NIFTYShort
by abhishek_sh4
2
Nifty 50 near 38.20% Fibonacci Level 9400 = WAIT NEUTRAL If Nifty 50 NSE:NIFTY does not Break the 38.20% Monthly Fibonacci Level = 9400, What Next? Case 1: If Nifty stays Neutral and above 75mins 50EMA without retracing back to Monthly Support and Breaks the 38.20% in next few trading sessions = It is successful in making a Higher High Daily Swing more than 9390.85 of 20th April, indicating the continuation of Daily UpTrend. Assuming the above case is false, then Case 2: If Nifty goes back to Monthly Support = It failed to make a Higher High Daily Swing more than 9390.85 of 20th April, Forming a Daily Lower Higher, indicating the end of Daily UpTrend + It also broke the 75mins 50EMA indicating a 75mins Down Trend + It also made 2 Weekly Hanging Man Candle on 13th April and 20th April which is a Bearish Reversal Pattern. Assuming the above cases are false, then Case 3: If Nifty still Breaks the Monthly Support and goes below Low of 8909.40 of 21st April, Forming a Lower Low Swing in addition to a Higher Low = It's a confirmation of Daily Down Trend + Price is also below the 75mins 50EMA indicating a 75mins Down Trend. Assuming the Case 3 is true, then Case 4: Continuing the Daily Down Trend, if Nifty makes a Lower Low than 7511.10 of 24th March, Then it's a Weekly Down Trend Confirmation as Weekly already made a Lower High of 9390.85 of 20th April compared to 12246.70 of 14th Feb. If Nifty does Break the 38.20% Monthly Fibonacci Level = 9400, What Next? The 38.20% Fibonacci Level of 9400 should become support from resistance for the Daily Up Trend to continue. Price should take support at Daily Trend Line and not make a Swing Low Lower than 8909.40 of 21st April, indicating the continuation of Daily Up Trend. Price may test Weekly Resistance level at 9711 Price may test Daily 50 EMA Resistance 2nd Weekly Resistance at 10130 Key Level to test 50.00% (9950) to 61.80% (10550) High probability of a pullback ending in this level and retracing back continuing the Downtrends. Stay cautious in these levels.
NSE:NIFTY
by ashishd1
1
RECLTD : Hanging Man!!Marked on the chart are identified Hanging Man candlestick pattern, we'll wait for confirmed weekly closing below same & step-in for opportunities. if you have any queries regarding above idea or any other stock feel free to D'M Announcement : Recently we launched, TruStox Community a community driven platform for Traders with almost all features that a trader needs. Here are some of them:- Trade assisting Tech. Regular Study Conferences. Collective Fundamental Research. Access to Tools from Trader's Toolkit. & many more. For More information : Click Here! Note : Trading in any financial market is very risky. We post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
NSE:RECLTDEducation
by TruStox