The pattern formed now in Nifty50 on 1D TF is very much similar to the pattern formed back in 2005 in first half.
But in 2005's pattern it was a little bit sideways but the current pattern is formed in strong bullish trend.
Will it form a double bottom pattern just like in 2005 and move up ?
This is my own analysis.
This post is for information purosely only.
What Does Morning Star Mean?
A morning star is a visual pattern consisting of three candlesticks that is interpreted as a bullish sign by technical analysts.
A morning star forms following a downward trend and it indicates the start of an upward climb.
It is a sign of a reversal in the previous price trend. Traders watch for the formation of a morning star and...
What is a Symmetrical Triangle ?
A symmetrical triangle is a chart pattern characterized by two converging trend lines connecting a series of sequential peaks and troughs. These trend lines should be converging at a roughly equal slope. Trend lines that are converging at unequal slopes are referred to as a rising wedge, falling wedge, ascending triangle, or...
I have tried my best to explain, How to trade Dragonfly Candlestick pattern ?
Here, most imp point to consider is the Confirmation Candle ... why?
1. Market opened Gap down and was in the down trend, which broke the major Support level of 35000.
2. Now, this broken Support level would act as Resistance Level when market tries to reverse taking...
What Is a Double Top?
A double top is an extremely bearish technical reversal pattern that forms after an asset reaches a high price two consecutive times with a moderate decline between the two highs.
Or in simple words...
A double top is a bearish technical reversal pattern
It is confirmed once the asset's (Banknifty's) price falls below a support level equal...
today we @ middle just follow the lines if we hold above 10300 go for long and if we don't hold and take resistance @ 10300 then we will go for short ......just note down white lines as support or resistance have a happy trade and i am missing your likes and comments if any correction or your idea on my view pls let me know