Rising Three Methods Bullish Pattern: Continuation
Trend: Bullish
Reliability: High
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How to Identify it The first day is a long white day The second, third, and fourth days have small real bodies and follow a brief downtrend pattern, but stay within the range of the first day The fifth day is a long white day that closes above the close of the first day
What it Means In an uptrend, a long white day occurs, following by three days of small real bodies that fall into a short downtrend. On the fifth day, the bulls come in strong to close at a new high. This small downtrend, in between two long white days, is consistent with investors taking a break. The upward trend should continue. ---------------------------------------------------------------------------------------------
Mat Hold Bullish Pattern: Continuation
Trend: Bullish
Reliability: High
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How to Identify it The first day is a long white day The second day gaps up and is a black day The second, third, and fourth days have small real bodies and follow a brief downtrend pattern, but stay within the range of the first day The fifth day is a long white day that closes above the close of the first day
What it Means The Mat Hold pattern is similar to the Rising Three Methods pattern. In an uptrend, a long white day occurs, following by three days of small real bodies that fall into a short downtrend. On the fifth day, the bulls come in strong to close at a new high. It appears that attempts to reverse the trend occurred, but failed. The upward trend should continue. |
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14 comments:
Ilango Sir,
TT please..
Sir mail sent.
Thanks
I think it has become an everyday routine for nifty to rocket up in the last 30 mins. I think the same has been continuing for whole of Feb month.
Thank you Sir.
'Three Inside Up Bullish' is a reversal pattern cannot be applied here
master-strokes are xllent.very informative
@ Proposition bets,
Yes.."Three Inside up Bullish" is a reversal Pattern.
Here, the continuation pattern is "Rising Three Methods Bullish".
- Corrected.
Thank you.
What a great learning oppurtunity here provided by Sir Ilango!
Humble naman (obeisance) Sir Ilango!
This kind of last hour upmoves was seen in ample during
2007 as well as in early 2008 when Anil was due to
come with his R power IPO. After that what hpnd all
of us know. I am not suggesting any crash but
caution is due.
Until the last vote is cast in the state elections,
market will hold on to its gains and such last minute
surges will be seen. After that it is anybody's guess.
In any case DJNSAR is indicating long only since the
upmove started.
Namaste Ilango Sir & Blogmates,
Nifty on steroids; Option Analysis for 09-02-2012
Duplicated at Wordpress Site
Thanks & Regards,
Sanjay Kr Jaiswal
Thank you sir for this candlestick pattern
watch out for major European an US indices all of them seems to be caught in a rising wedge pattern on daily and weekly charts and the pattern is almost ripe
fii activity
Date Gross Purchase Gross Sales Net Purchase/Sales
09-Feb-2012 3985.22 2784.56 1,200.66
Market moved to 5423 from the low of 5323 seen couple of days back and in between it was in range bound mode( Contracting Triangle ) . Before making high of 5423 market moved from 5344 towards upward direction and thus implying market may go to the minimum of 5434. At the same time this is marginally higher than the top seen on 28th Oct. 2011, just after Diwali day. This opens up the possibility of
earlier labeling as detailed below:
WAVE A = 5700 - 4720 = 980
WAVE B = 4720 - 5382 = 662
WAVE C = 5382 - 4639 = 743
WAVE D = 4639 - 5099 = 460
WAVE E = 5099 - 4588 = 511
WAVE F= 4588 - 5423 (Progressing) = 835
In the chart given below one can see two different NeoWave Diametric where(1) Wave F terminating just below Wave D and in another case(2) Wave F terminating just above Wave D and Wave B. In our present scenario the assumed Wave F is exactly in the zone of completing the up move of Wave F. Hence the chance of Wave F terminating very much exists.
Under the above explained circumstances it is worth waiting for confirmation.
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TWO DIFFERENT DIAMETRIC = Refer my blog for Sample Chart
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CONCLUSION
Initiate short @ 5435 / 5450 zone with stop loss price of 5460.
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