It is a easy and useful technical analysis for positional traders. DOJI,Hammer and engulfing pattern can be done easily.Analysis is the key position in trading.Candlestick analysis should be made by comparing the last one week’s price variation and movement.

  • : Candlestick charts are a technical tool that pack data for multiple time frames into single price bars.It represents the price change between the open and close of that particular day.
  • : Candlestick analysis can be used for weekly forecasting.It is a helpful tool for positional traders.
  • : Candlestick analysis can be used by a positional trader.It is a reversal pattern so volume plays a key role in deciding the direction of the movement.
  • : Engulfing pattern is a reversal candlestick pattern.Bullish engulfing pattern is a bullish reversal pattern usually occuring at the bottom of a downtrend.The pattern consists of two candlestick,small bearish candlestick on day 1 and a bullish candle on day 2.
  • : Piercing pattern is a reversal candlestick pattern which is bullish in nature and appears at the end of a downtrend. Conditions to qualify : 1. The body should cover the previous day's low. 2. The current day body should cover at-least 50% of previous body. 3. The upper tail should not be very big.
  • : DOJI means neutral and it is a Powerful and reliable candlestick pattern.It is the indication of reversal trend and can be used for creating long/short position based on whether it is bullish or bearish.
  • : The morning star candlestick pattern is a reversal pattern in technical analysis and the pattern has three candles which forms at the bottom of a downtrend. We can create a long position when the third candle opens higher than the previous close of the second candle (DOJI)with good volume. The evening star is a reversal pattern in technical analysis and the pattern has three candles which forms at the top of a uptrend. We can create a short position when the third candle opens lower than the previous close of second candle (Doji) with good volume.
  • : Hammer is a reversal trend with recent price fall.Hammer lower tail should be two times of its body size and the upper tail should be invisible. Green in colour with a high volume indicates bullish movement. Buying should be made when the price exceeds the day's high and stop loss below the day's low.
  • : Engulfing or Piercing which is to be preferred ?
1 Comment
  1. Naresh 3 years ago

    Hi,
    Your Question 1 :: Engulfing or Piercing which is to be preferred ?
    Both of preferred

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