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A constant price fall is identified and the last red candle is pierced by a green candle at the 50% equivalent level, with a shorter top shadow. As the trend is reversing, take a Long position at point A (1210.4), which is the high of the two candles, Stop loss is set at point B(1174.0), which is the low of the piercing candle. the target is set at point C (1246.8), which is Point A + risk taken. the target was reached in 4 days.
| M | T | W | T | F | S | S |
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| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| 8 | 9 | 10 | 11 | 12 | 13 | 14 |
| 15 | 16 | 17 | 18 | 19 | 20 | 21 |
| 22 | 23 | 24 | 25 | 26 | 27 | 28 |
| 29 | 30 | |||||
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Hi,
It’s an improper piercing.
Green body should be cover the previous day low and the higher tail should be low.
Understood the error now. I had assumed, if the body is covered its well and good. Thank you for the correction, Will follow it in future analysis.