Bagya

[Bagya]

Sir,

A doubt about the piercing pattern you have posted.  Your post meets two criteria of piercing pattern – Reversal trend and High volume.  But another important criteria of piercing pattern is today’s green body has to cover yesterday’s low.  In your post yesterday’s low was not covered by the body.

Please forgive and correct me if I am wrong.

[Bagya]

Sir

Adani Analysis – Hammer Man you have posted, certainly looks like reversal pattern with significant volume, but the candle looks more like a green hanging man rather than a green hammer man.  This signifies that even though the price went up to the day’s high of 302, it has come down to 295 by end of the day.  So does it meet the criteria of hammer man?

Sir, I am a novice.  So I might be 100% wrong.  Kindly forgive and correct me if I am wrong.

[Bagya]

Sir

Just a suggestion when observing your cup pattern, I felt the CUP could have been more strongly emphasized if you have chosen a Line chart instead of a Candle Stick.  Please correct me if my opinion is wrong.

[Bagya]

There is a correction in point #3.   It should be

3.  Left shoulder must have significant volume and right shoulder should have less volume.

[Bagya]

Thanks a lot for your comment.  I will rework on Head and Shoulders and this time I will make sure it meets all the criteria.

[Author]

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