Nifty Futures Trading Part 2 (Positional)
- Thread starter Czar
- Start date
- Tags acd method logical trader nifty futures nifty positional trade nifty trading vix
- Status
Hi,
hope i have a fair pace of learning in traderji forum with all u helping techies.
why the BollingerBands facinates me is due to its hypothetical path groving for price movements, giving feeling of prices attracted towards bands magnetically.
But here alongwith that, "Mom" has delivered "Baby" almost after 9 months
Possibly any level below projected lower band value, will be thrown inside the bands soon.
hope i have a fair pace of learning in traderji forum with all u helping techies.
why the BollingerBands facinates me is due to its hypothetical path groving for price movements, giving feeling of prices attracted towards bands magnetically.
But here alongwith that, "Mom" has delivered "Baby" almost after 9 months
Possibly any level below projected lower band value, will be thrown inside the bands soon.
Hi,
hope i have a fair pace of learning in traderji forum with all u helping techies.
why the BollingerBands facinates me is due to its hypothetical path groving for price movements, giving feeling of prices attracted towards bands magnetically.
But here alongwith that, "Mom" has delivered "Baby" almost after 9 months
Possibly any level below projected lower band value, will be thrown inside the bands soon.
hope i have a fair pace of learning in traderji forum with all u helping techies.
why the BollingerBands facinates me is due to its hypothetical path groving for price movements, giving feeling of prices attracted towards bands magnetically.
But here alongwith that, "Mom" has delivered "Baby" almost after 9 months
Possibly any level below projected lower band value, will be thrown inside the bands soon.
lol ....with ur permission can i save ur chart ?with wittiest ever comment i ever heard ( it beats even czar !!!
Single Candlestick Formation
Summary: The hammer signal has bullish implications for the market, but needs confirmation today (Sep 17) if a reversal of the downtrend is to set in. Kindly note the trading psychology behind the pattern (see below).
Description
The Hammer is comprised of one candle. It is easily identified by the presence of a small body with a shadow at least two times greater than the body. Found at the bottom of a downtrend, this shows evidence that the bulls started to step in. The color of the small body is not important but a white candle has slightly more bullish implications than the black body. A positive day is required the following day to confirm this signal.
Criteria
The lower shadow should be at least two times the length of the body.
The real body is at the upper end of the trading range. The color of the body is not important although a white body should have slightly more bullish implications.
There should be no upper shadow or a very small upper shadow.
The following day needs to confirm the Hammer signal with a strong bullish day.
Signal Enhancements
The longer the lower shadow, the higher the potential of a reversal occurring.
A gap down from the previous day's close sets up for a stronger reversal move provided the day after the Hammer signal opens higher.
Large volume on the Hammer day increases the chances that a blow off day has occurred.
Pattern Psychology
After a downtrend has been in effect, the atmosphere is very bearish. The price opens and starts to trade lower. The bears are still in control. The bulls then step in. They start bringing the price back up towards the top of the trading range. This creates a small body with a large lower shadow. This represents that the bears could not maintain control. The long lower shadow now has the bears questioning whether the decline is still intact. A higher open the next day would confirm that the bulls had taken control.
Summary: The hammer signal has bullish implications for the market, but needs confirmation today (Sep 17) if a reversal of the downtrend is to set in. Kindly note the trading psychology behind the pattern (see below).
Description
The Hammer is comprised of one candle. It is easily identified by the presence of a small body with a shadow at least two times greater than the body. Found at the bottom of a downtrend, this shows evidence that the bulls started to step in. The color of the small body is not important but a white candle has slightly more bullish implications than the black body. A positive day is required the following day to confirm this signal.
Criteria
The lower shadow should be at least two times the length of the body.
The real body is at the upper end of the trading range. The color of the body is not important although a white body should have slightly more bullish implications.
There should be no upper shadow or a very small upper shadow.
The following day needs to confirm the Hammer signal with a strong bullish day.
Signal Enhancements
The longer the lower shadow, the higher the potential of a reversal occurring.
A gap down from the previous day's close sets up for a stronger reversal move provided the day after the Hammer signal opens higher.
Large volume on the Hammer day increases the chances that a blow off day has occurred.
Pattern Psychology
After a downtrend has been in effect, the atmosphere is very bearish. The price opens and starts to trade lower. The bears are still in control. The bulls then step in. They start bringing the price back up towards the top of the trading range. This creates a small body with a large lower shadow. This represents that the bears could not maintain control. The long lower shadow now has the bears questioning whether the decline is still intact. A higher open the next day would confirm that the bulls had taken control.
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