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The following are the analysis for the sequences mentioned in the chart.
Seq1: DOJI is seen after significant bearish trend with high volume on DOJI. Trade Plan:Direction Bullish, Position Long,Entry at 214, SL 203, Target 230(1.5*Risk Considered). The detailed view of Seq1 is shown in chart 1.
Seq2 : DOJI is seen after significant bearish trend with high volume considering the 2 months timeline. Trade Plan: Direction Bullish, Position Long, Entry at 145 SL 141, Target 151(1.5*Risk).The detailed view of Seq2 is shown in chart2.
To clarify: When we look at the trend after DOJI in Seq2, the trade triggers the stop loss. Since the price falls back below SL before reaching the target and then moving forward. However is it still a good trade as per DOJI or any parameter to disqualify this as DOJI(ex: Even volume is high considering 2 months, it is less compared to previous months). Since the candlestick analysis focuses on short term trading, is it sufficient to consider the volume trend with in 3 months time or in relation with longer duration of past months(Refer UNION BANK-DOJI chart) . Please feedback your thoughts and inputs.
DEAR SIR /MADAM
TRADE PLAN is UNVIABLE in any pattern once the STOP LOSS is reached however convincing the pattern may be from our stand point
More over idea of continuing the trade after STOP LOSS is not in tune with our technical analysis
We followed the rules of our analysis and hence need not worry about the consequence of the closed position of a trade even if fetched profit after our exit
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