Price action with Candlestick Analysis(No indicators)

[augubhai]

hmmm..forex, commodities, fno..so many things to explore .

have you noticed how suddenly many times buying or selling comes just near the end of the candle. Its all quite ...suddenly traders become active just as the candle is about to close moving price vigorously.

Regards

have a similar observation to share.... had originally posted it here:
http://www.traderji.com/trading-diary/86833-augubhai-systematic-trader-5.html#post806240

If NF 5 min bar (or even 1 min) closes at or a few ticks from its High or Low, then that High or Low will be taken out in the next minute. This is especially true when the price came towards the High or Low in the last 20 seconds of the bar and stayed there. But if the price came near the High or Low, but moved away from the High/Low in the last 5-10 seconds, then expect the price to stagnate or even reverse.
Key is to watch price movements in the last few seconds before bar completion. Again, I am talking of a few ticks.

 

[timepass]

EURINR (spot) 60 min - will this count as H&S ??

 

[akrsrivastava]

USDINR for today

ABB-EQ
Not very convincing pinbar...but still

 

[Vertigo_1985]

EURINR (spot) 60 min - will this count as H&S ??

dunno about head and shoulder..but its showing following things to me :-
1. Not sustaining below yellow line.
2. Slower approach to lower area, which means sellers having lesser strength than before.
My expectation would be that if price crossed above last bear candle then it should show strength in up and test the region from where fall came.

can you please post the updated chart..

 

[Vertigo_1985]

have a similar observation to share.... had originally posted it here:
http://www.traderji.com/trading-diary/86833-augubhai-systematic-trader-5.html#post806240

If NF 5 min bar (or even 1 min) closes at or a few ticks from its High or Low, then that High or Low will be taken out in the next minute. This is especially true when the price came towards the High or Low in the last 20 seconds of the bar and stayed there. But if the price came near the High or Low, but moved away from the High/Low in the last 5-10 seconds, then expect the price to stagnate or even reverse.
Key is to watch price movements in the last few seconds before bar completion. Again, I am talking of a few ticks.

gr8...have you found any correlation between this observation and trend in that timeframe ?

 

[Vertigo_1985]

IDFC TODAY :-

 

[VJAY]

Dear Vertigo,
Great analyse....Whats your creteria for selecting scrip at morning? Gap up/gapdn?

 

[Vertigo_1985]

Dear Vertigo,
Great analyse....Whats your creteria for selecting scrip at morning? Gap up/gapdn?

gap up or down by more than 3 %, or stocks which have showed big movement previous day.

 

[Vertigo_1985]

DLF today :-

 

[akrsrivastava]

JPYINR