Technical Analysis Pattern-Candelsticks
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Transcript of Technical Analysis Pattern-Candelsticks
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CANDLESTICK PATTERNS
PRESENTED TO: DR.KIRAN MEHTA
PRESENTED BY:Jaspreet KaurAarzoo Dua
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CHART
• Charts are the working tools of technical analysts. Investors use charts to plot the price movements of a stock over specific time frames. It’s a graphical method of showing where stock prices have been in the past.
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TYPES• CHART
LINE BAR CANDLESTICK
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Candlestick
• Candlestick charts provide visual insight to current market psychology.
• A candlestick chart can be created using the data of high, low, open and closing prices for each time period that you want to display.
• Each candlestick provides an easy-to-decipher picture of price action. Immediately a trader can see and compare the relationship between the open and close as well as the high and low.
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•ONE CANDLESTICK PATTERN
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HAMMER
FORMED AFTER A LONG DOWN TREND
BULLISH TREND REVERSAL CANDLE
SHADOW FORMED IS 2-3 TIMES LARGER THAN THE BODY
BOTTOM IS HAMMERED, PRICES TO GO UP
THE FOLLOWING DAY NEEDS TO CONFIRM THE HAMMER SIGNAL WITH A STRONG BULLISH DAY
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BANK OF INDIA
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Hanging Man
• Prior Trend: Upward
• Potential: Down
• View: Prices will go down
• Position: short and after confirmation
• Identification: after peak of uptrend
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INVERTED HAMMERAPPEARS IN THE DOWN TREND
SMALL BODY, LONG UPPER SHADOW(2-3 TIMES)
BUYERS ARE BACK IN THE MARKET, SELLERS ARE EXHAUSTED
THE DAY AFTER THE INVERTED HAMMER SIGNAL OPENS HIGHER
SHOOTING STARAPPEARS IN THE UP TREND
SMALL BODY, LONG UPPER SHADOW(2-3 TIMES)
SELLERS ARE BACK IN THE GAME, BUYERS ARE EXHAUSTED
THE DAY AFTER THE SHOOTING STAR SIGNAL OPENS LOWER.
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INVERTED HAMMER & SHOTING STAR
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BULLISH ENGULFING
• Prior Trend: Down
• Potential: Up
• View: Prices will go up
• Identification: at end of downward trend
• Must confirm it
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BEARISH ENGULFING
2 CANDLESTICK PATTERN: 1ST CANDLE BULLISH, ND CANDLE BIG BEARISH, ENGULFS COMPLETELY THE 1ST
BULLISH CANDLE
FORMED AFTER AN UPTREND
POWRFUL SIGNAL AFTER A LONG UPWARD TREND…… IN BETWEEN TRENDS IT JUST SHOWS MOMENTARY BUYING
SELLING OPPORTUNITY…PRICES MAY FALL NOW
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ACC LTD. BEARISH ENGULFING
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•TWO CANDLESTICK PATTERN
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PIERCING
• Prior Trend: Downward
• Potential: indicates uptrend
• View: may prices will go up
• Identification: 1st candle is bearish and forms a low in a downtrend and 2nd candle opens little bit lower but closes above 1st candle’s mid point.
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BULLISH HARAMI
• Prior Trend: downward
• Potential: indicates market can be in uptrend
• View: prices can go high
• Identification: 1st candle is bigger and bearish near a bottom/after downtrend and 2nd candle has small body contained within 1st candle.
• Wait for confirmation
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BEARISH HARAMI
FORMED NEAR A TOP, AFTER AN UPTREND
1ST CANDLE IS BIGGER AND BULLISH
2ND CANDLE IS BEARISH AND HAS SMALL BODY, CONTAINED WITHIN THE FIRST CANDLE
FOR A REVERSAL SIGNAL, CONFIRMATION IS NEEDED. THE NEXT DAY SHOULD SHOW WEAKNESS
THE UPTREND HAS BEEN APPARENT. A LONG BULLISH CANDLE OCCURS AT THE END OF THE TREND
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BOSCH- BEARISH HARAMI
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•THREE CANDELSTICK PATTERN
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MORNING STAR
• Prior Trend: downward
• Potential: Uptrend
• View: prices will go up
• Identification: 1st candle is bearish candle, 2nd is small body (situation of indecision) and 3rd candle is bullish which closes more than half size of 1st candle.
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EVENING STAR
3 CANDLESTICK PATTERN
1ST CANDLE BULLSIH
2ND CANDLE SMALL BODY-INDECISION
3RD CANDLE BEARISH- CLOSES BELOW MID-POINT OF 1ST CANDLE
CONDITION- STRONG AFTER AN UPTREND
INTERPRETATION- THE BEARS ARE READY TO TAKE THE PRICES DOWN
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HCCL- EVENING STAR
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DOJI
REPRESENTS INDECISION
NO BODY- REFLECTS A BALANCE BETWEEN BUYING AND SELLING
TREND COMING TO END
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IDEA CELLULAR- DOJI
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