add on radar for next week
based on three black crows
When a Three Black Crows is seen at the top of an uptrend,
it could be one of the most powerful reversal patterns and trend signals.
entry condition - short @ open, preferable below close of 3rd bar
1st target - 525-521
521 being one month low can behave as good support
further targets will be posted...
Nestle is on a downtrend.
It broke below the 200 DMA with strong volumes. It has pulled back right till the 200 DMA where it was met with resistance.
And now we've 3 strong red candles successively (three black crow candlestick pattern suggestive of bearishness)
And the resistance can be seen right at the trendline that I've drawn.
SL: use trailing...
Tomorrow on NSE:NIFTY , if a red bearish bar appears, then it will be a three black crow pattern which will confirm long bearish phase!
However if a big green bar emerged from day's opening price, it will be a Three line Strike pattern, which is a highly bullish pattern with 84% accuracy rate! See also my other posting in link below.
The price action is been trading between trendlines and forming bullish candlesticks pattern at the bottom of trendline or resistance line. For past three days, it is been falling and formed a Three black crows bullish pattern. Now, it can move up tomorrow as shown in the chart to confirm the pattern as it is also previously done. Buying pressure at resistance...