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Candlestick Patterns... |
sherbaaz
Yellow Belt
Joined: 27 May 2009
Posts: 543
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Post: #91  Posted: Mon Feb 21, 2011 3:45 pm Post subject: |
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Hi All,
After a fall on Friday was looking for some good consolidation. Which did happen. since morning NF was is congestion ( this i like to see as it gives a very good opportunity to trade, provided you pick it right).
At the low of the day NF made a piercing candle on 5 min tf. it gave first indication that trend may change on 5 min tf.
there was a bullish wolfe wave also formed earlier (although not to the T, but gave good profit tgt).
the congestion formed a falling wedge. went long at BO @ 5444. Wolfe wave tgt @ 5517 and 5422. Fantastic risk reward of 1:3.
Attached is the chart.
Regards,
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #92 Posted: Mon Feb 21, 2011 4:13 pm Post subject: |
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Hello Everybody,
I would like to share my nifty trade of today. I was trading in 60min and price was in congestion zone.
For reference I checked 15min tf nifty. I could see a bullish divergence. I became cautious. Next a morning doji star appeared which confirmed reversal. Went long above falling TL with sl= 5420.
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #93 Posted: Tue Feb 22, 2011 10:54 pm Post subject: |
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Hello Everybody,
Is it a bearish flag in nifty eod?
Thanks and Regards
Ravee
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rajshreed
White Belt
Joined: 25 Dec 2010
Posts: 8
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| Post: #94 Posted: Wed Feb 23, 2011 10:14 pm Post subject: |
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hello everyone!
BHEL is showing the attached graph, and i am not able to interpret what position to take..or which pattern is being formed. Could someone tell me what is the possible formation.
Regards
Rajshree
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BHEL.pdf |
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #95 Posted: Thu Feb 24, 2011 7:54 am Post subject: |
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| rajshreed wrote: | hello everyone!
BHEL is showing the attached graph, and i am not able to interpret what position to take..or which pattern is being formed. Could someone tell me what is the possible formation.
Regards
Rajshree |
Hi Rajshree,
Acc to my limited knowledge, BHEL eod is in downtrend and no signal of confirmed reversal as of now. However 2000 seems to be an immediate bottom for this stock. We need to understand how 2000 is negotiated.
May be in another day or so the picture becomes clear. Till then, keep a watch and dont trade.
Thanks and Regards
ravee
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sherbaaz
Yellow Belt
Joined: 27 May 2009
Posts: 543
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| Post: #96 Posted: Thu Feb 24, 2011 10:31 am Post subject: |
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Hi All,
Attached is the chart of NF 5 min TF. I think pattern has been posted in another thread also. WANT to share the impact of volume along with the pattern.
Marked points 1,2 and 3 on chart at DTL. 1 & 2 are shooting star formation and 3 is a pin bar (one can say shooting star also). these 3 points making the DTL.
all the 3 points 1,2 & 3 acted as a resistance and interesting thing is to see how huge volume is on these three candles confirming the resistance and huge volume indicating heavy supply at key resistance.
Also chk how low is the volume or volume declining in the up move. suggesting that up move is not strong.
regds,
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #97 Posted: Thu Feb 24, 2011 10:44 am Post subject: |
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Sherbaaz hello,
How did u get the volume data for nifty? any software which provide so. Also if possible for you, kindly comment upon the bearish flag in nifty eod as marked by me.
keep sharing.
Thanks and Regards
ravee
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sherbaaz
Yellow Belt
Joined: 27 May 2009
Posts: 543
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| Post: #98 Posted: Thu Feb 24, 2011 10:52 am Post subject: |
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| singh.ravee wrote: | Sherbaaz hello,
How did u get the volume data for nifty? any software which provide so. Also if possible for you, kindly comment upon the bearish flag in nifty eod as marked by me.
keep sharing.
Thanks and Regards
ravee |
Hi,
I didnt get your Q regarding volume. The chart i have posted is nf chrt you can get volume in ichart premium in all the charts along with OI if its futures.
regarding the bearish flag yes it is a bearish flag according to me. after a bearish engulfing.
regds,
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #99 Posted: Thu Feb 24, 2011 10:56 am Post subject: |
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sherbaaz bhai,
thank u so much for confirming bearish flag.
i m basic subscriber, so dont get chart for nifty future, thats why the volume is missing. may be i need to renew with premium service.
thanks and regards
ravee
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sherbaaz
Yellow Belt
Joined: 27 May 2009
Posts: 543
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| Post: #100 Posted: Thu Feb 24, 2011 3:48 pm Post subject: |
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| sherbaaz wrote: | hi,
Attached is the chart of NF eod Couple of interesting things happened for which i was looking forward.
the up move which started from 5175 was having no volume or strength in its move.
today a bearish engulfing happened with good volume. price took resistance @ 38.2% of fibo.
regds, |
Hi All,
In continuation to my EOD chart today nifty given a blasted profits for swing shorts.
Attached is the chart
Regards,
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rajshreed
White Belt
Joined: 25 Dec 2010
Posts: 8
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| Post: #101 Posted: Thu Feb 24, 2011 11:21 pm Post subject: |
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| sherbaaz wrote: | | sherbaaz wrote: | hi,
Attached is the chart of NF eod Couple of interesting things happened for which i was looking forward.
the up move which started from 5175 was having no volume or strength in its move.
today a bearish engulfing happened with good volume. price took resistance @ 38.2% of fibo.
regds, |
Hi All,
In continuation to my EOD chart today nifty given a blasted profits for swing shorts.
Attached is the chart
Regards, |
Hello everyone,
Thanks for the lead on BHEL ravi.
Sherbazz, in the attached chart i wanted you to verify if i have identified the patterns right,
2-Evening Star
3-morning Star
4-Bearish Engulfing pattern
i am unable to identify the 1st pattern you have highlighted.could you help me with that.
Thanks & Regards
Rajshree
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rohit44
White Belt
Joined: 05 Jan 2010
Posts: 279
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| Post: #102 Posted: Fri Feb 25, 2011 2:16 am Post subject: |
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| what will be the expected tgt of bearish flag pattern in nifty future??
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sherbaaz
Yellow Belt
Joined: 27 May 2009
Posts: 543
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| Post: #103 Posted: Fri Feb 25, 2011 8:32 am Post subject: |
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| rajshreed wrote: | | sherbaaz wrote: | | sherbaaz wrote: | hi,
Attached is the chart of NF eod Couple of interesting things happened for which i was looking forward.
the up move which started from 5175 was having no volume or strength in its move.
today a bearish engulfing happened with good volume. price took resistance @ 38.2% of fibo.
regds, |
Hi All,
In continuation to my EOD chart today nifty given a blasted profits for swing shorts.
Attached is the chart
Regards, |
Hello everyone,
Thanks for the lead on BHEL ravi.
Sherbazz, in the attached chart i wanted you to verify if i have identified the patterns right,
2-Evening Star
3-morning Star
4-Bearish Engulfing pattern
i am unable to identify the 1st pattern you have highlighted.could you help me with that.
Thanks & Regards
Rajshree |
Hi,
Nos 1,2,3 and 4 are not identifying any candle pattern but have been marked as EW impluse waves.
regds,
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girishhu1
White Belt
Joined: 17 Aug 2009
Posts: 316
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| Post: #104 Posted: Mon Feb 28, 2011 6:48 am Post subject: |
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| sherbaaz wrote: | | rajshreed wrote: | | sherbaaz wrote: | | sherbaaz wrote: | hi,
Attached is the chart of NF eod Couple of interesting things happened for which i was looking forward.
the up move which started from 5175 was having no volume or strength in its move.
today a bearish engulfing happened with good volume. price took resistance @ 38.2% of fibo.
regds, |
Hi All,
In continuation to my EOD chart today nifty given a blasted profits for swing shorts.
Attached is the chart
Regards, |
Hello everyone,
Thanks for the lead on BHEL ravi.
Sherbazz, in the attached chart i wanted you to verify if i have identified the patterns right,
2-Evening Star
3-morning Star
4-Bearish Engulfing pattern
i am unable to identify the 1st pattern you have highlighted.could you help me with that.
Thanks & Regards
Rajshree |
Hi,
Nos 1,2,3 and 4 are not identifying any candle pattern but have been marked as EW impluse waves.
regds, |
hellow sherbaz/ravee
enclosing a chart of hpcl can it be considered a morning star or tristar with 3 dojis, as can be clearly seen in case of gail? central candle is gap down and last candle is gap up but first candle is green candle, last candle is not piercing in the body of first candle and volumes. if yes what should be entry strategy?
regards,
girish
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Last edited by girishhu1 on Mon Feb 28, 2011 9:01 am; edited 1 time in total |
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singh.ravee
Yellow Belt
Joined: 12 Aug 2010
Posts: 678
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| Post: #105 Posted: Mon Feb 28, 2011 8:39 am Post subject: |
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girishhu1 hi,
according to my limited knowledge its not a morning star. For a morning star first body should be long black body, second a small body, and third a long white body piercing more than 50% in previous long black body. I have no idea regarding tristar.
Thanks and Regards
Ravee
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