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Reversalpattern

Reversal Pattern - Three inside UpThe three inside up pattern is a bullish reversal pattern composed of a large down candle, a smaller up candle contained within the prior candle, and then another up candle that closes above the close of the second candle. These patterns are short-term in nature, and may not always result in a significant or even minor trend change. Consider using these patterns within the context of an overall trend. For example, use the three inside up during a pullback in an overall uptrend. REASON - The downtrend continues on the first candle with a large sell-off posting new lows. This discourages buyers, while sellers grow confident. The second candle opens within the prior candle's trading range. Rather than following through to the downside, it closes higher than the prior close and the current open. This price action raises a red flag, which some short-term short sellers may use an opportunity to exit. The third candle completes a bullish reversal, trapping remaining short-sellers and attracting those who are interested in establishing a long position.
Education
by TraderLeVeR
1
ASIAN PAINTS ON 15 MINS CHARTAsian paints on 15 mins charts is making HEAD & SHOULDER PATTERN and we believe that neckline is broken with good bearish pressure with increase in volume. 1st target 2620 if market opens flats, if any gap down we wait for retest or any bearish continuation pattern with 2600 as second target. We believe stove can give reversal sign from 2600 because of good Fibonacci 50%, which is exactly at demand zone. Also the length or price area of LENGTH A,B,C IS EQUALS which qualifies fir good short setup. Trade safe.
NSE:ASIANPAINTShort
by Trademint08
BANKNIFTY TRADE SET UP (MARCH WEEK 4)The market has been correcting for the past several days and BankNifty has moved down 11.5% from the high it made in February. This has presented some good shorting opportunities. While the market trend in the very short term remains bearish and long term trend being bullish , there is heavy volatility on either side. After correcting for 4 consecutive sessions, the index had a good recovery on Friday, which may have trapped all the bears. If we observe the trend for the last 1 month of the 15 min chart, we can see how we are currently trading at the bottom end of the downward trend. The index has also made a very nice looking double bottom or W shaped patterns, which generally happen to be reversal patterns. Also, on Thursday's sell off BankNifty re-tested the 50% retracement level from the rally after the budget. Considering the region where the double bottom formation has occurred, I think it is highly likely that the market reverses from here and at least re-tests 35,000. I am more biased towards the bullish side for the coming week, although I am prepared to consider the short side as well incase the Thursday low is broken. These are my personal views and I reserve the right to be wrong. Please trade with proper risk management. If you found this helpful, do like and follow. :) Do leave a comment if you have any questions!
NSE:BANKNIFTYLong
by ArcherDAVIS
1