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Trendreversalpattern

Trend Reversal with Double Top Pattern & Candlestick formationsImportant SR levels Update based on volume profile analysis for NSE:RELIANCE Hello Trader. If you like the idea, do not forget to support with a like and follow. Above is purely my opinion. It doesn't mean that you need to trade accordingly. Please note that I'm not Sebi registered advisor or technical analyst . Trade on your own conviction and please consult your advisor before investing . #supportandresistance #volumeprofileanalysis #stockmarketindia #reliance
NSE:RELIANCEShort
by Ami8singh
SHAKTIPUMP to revers it's downtrend from strong weekly support.SHAKTIPUMP is has been in a downtrend for a long time. Now it has formed double bottom pattern on its strong weekly horizontal line support. Also is forming a bullish hammer candlestick pattern on weekly support line. This suggest that there is a strong demand for this share around this level. The stock has closed above the neckline of double bottom in hourly chart in the back of huge volume. It clearly shows strong buying interest. Swing traders keep this stock on radar and look to enter in dips. Swing traders may book their profit around downward sloping trendline. If it breaks that line then the stock will surely touch new highs in coming future.
NSE:SHAKTIPUMPLong
by sumedhb100
'Inside' Story of 'Inside' Candle !!!! -> Definition of Inside Candle As the name suggests, an inside bar chart pattern engulfs the inside of a large candle, some call it a mother bar. It’s a pattern that forms after a large move in the market and represents a period of consolidation. The inside bar pattern can be a very powerful price action signal if you understand how to trade it properly. Matching lows and highs are acceptable, however, the inside bar’s range must not be outside of the mother candle by even 1 point. -> Facts about Inside Candle Inside bar pattern within the trading range (or shadow) of the preceding bar. It is at least a two candlestick formation. Mother candlestick can be either bullish(green) or bearish(red). The inside bar chart pattern can be bullish or bearish. Inside bar setup. -> Procedure to trade Inside Candle Entering: – When the price action completes an inside candlestick chart pattern, you should mark the low and high of the Inside Bar consolidation range. These two levels are used to trigger a potential trade. Remember, the inside candle clues us into the eventual breakout and likelihood of a continuation outside the range in the direction of the break, however, it doesn’t give us information about the direction of the breakout through the range, prior to the actual move. In simple terms, if the price action interrupts the range upwards, then you should go long. If the price action breaks the range downwards, then you should trade the short side. Exiting: – Projecting the potential move with Inside Bar Breakouts can be challenging. Often inside bar trades can lead to a prolonged impulse move after the breakout, so employing a trailing stop loss after the price has moved in your favor is a smart trade management strategy. Stop Loss: – In either case (If you are Long or short), your stop should be located below the bottom of the range, as stated in the picture below. There can be a buffer of 1% below the range. -> Inside Candle helps to identify change in trend The inside bar candlestick pattern is such a valuable tool because it tells us that the market is not as bullish or bearish as it was in the preceding period. Being able to identify periods of market expansion and contraction will help any trader improve their odds of finding a winning trade because we know from history that expansion and contraction can only last so long. When either of those market phases ends, the resulting moves can be explosive! My OBSERVATION -> It is more effective if used with RSI i.e. when RSI is greater then 70 and inside candle is formed , that spot is best for shorting, and if RSI is less then 30 and inside candle is formed , that spot is best to go long.
NSE:NIFTYEducation
by Chaser30
27
Trend reversal pattern signals seen in BajFinanceUpTrend reversal pattern signals seen in BajFinance Reasons : Daily chart trend closed below 5 MA Evening star candle stick formation seen with today close Earlier 2 inverted cross doji's formed and not activated yet Rally is paused after 31st August Volume Decreasing RSI Decreasing Trend is far away from 20 and 200 MA For healthy uptrend, stock has to test retracement of 38.2/50/61.8 Fibanocci levels Stock did not retrace since 16th August What can happen next : Scenario 1 : Below 7414, it can go till 6890/6711 (if we consider 7615 as retest on 6th Sep for the high made on 1st Sep 7674.50) Scenario 2 : Can retest 7615/7675 before going down For any further uptrend 0.382 levels needs to be tested.. Lets see.. Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
NSE:BAJFINANCEShort
by AdhigamaTrading
1
M Top or Double Top Bandhan BankThe Daily chart in Bandhan Bank shows a clear-cut M Top or Double Top pattern. Note that it's a trend reversal pattern. As you can see before the M top it was bullish and After the M top it created a bearish Trend. Let's call the first candle which crosses Neckline as Point B, and the Resistant line as Point A. when the candle finally crosses the neckline after creating M Top or Double Top draw a line from point A to point B. and place it below the neckline that shows the target. It's clearly seen that it has given a significant profit of 16%.
NSE:BANDHANBNK
by rajeevpatil
BPCL trend reversalBPCL was in a very clear uptrend from 22nd December... after that yesterday it formed a green candle with small wicks, today it opened gap up but could not retain the price and closed deep into yesterday's body. The encircled pattern is called Dark Cloud Cover. As the name suggests, a downtrend is expected after the appearance of this pattern. You can keep a target of the 200-day exponential moving average. The stop loss will be the highest high among both the candles forming the pattern. In this case, the highest high is the high of the first day (green) candle.
NSE:BPCLShort
by nandodeomkar
An investment idea in YESBANK on NSE (INDIA)This is monthly chart of YESBANK on NSE (INDIA) which looks good for an investment. Opinion has been formed based on following observations : 1. A horizontal line has been drawn on the chart which acted as resistance during JAN 2015 to MARCH 2016 which turned into key support during recent fall in prise. Finally, the said resistance was broken in April 2016 and now it acted as support after massive fall in price. This support also coincides with 78.6% retracement level on fibo as shown on the chart. 2. Trendline drawn on the chart indicates support with arrows which is yet another confirmation towards likely reversal in trend. 3. Inverted hammer formation in Oct 2018 is another conformation indicating possible reversal. Similar inverted hammer formation was observed in Sep 2013 and there is massive surge in volume at both the occasions as volume bar has engulfed the previous month volume bar (Sep 2013 and now in Oct 2018). In view of above, it could prove to be an excellent investment idea with stop @ 160 (below the recent swing low) with target @ 368 (resistance drawn on the chart) or beyond. Happy investing !!! Kindly share views which will help all of us...
NSE:YESBANKLong
by DEVERAMA
1