Dear Tulika,
Good Morning. Thanks for sharing ur trading experience with us. U have mentioned that all the signs were BULLISH..... but i dont find any crossing of TL & SL at Red arrow which is 1st & foremost condition for initiating any trade. There is a Xing but of DL & TL that too within the cloud. At 2nd trade (blue arrow) i find that there is crossing of SL & TL but below the kumo though price line is above.Does it affect trending ? Please comment on my observation. Kindly note iam "ZERO" in TA but willing to learn through U ALL. Plz tell me what is 26 std line repeatedly used by our brother LINKON. Thanks & sorry if my observation bothered U. ALL r welcomed to express their opinion on this. Thanks again to u & ALL. Happy trade.
Good Morning. Thanks for sharing ur trading experience with us. U have mentioned that all the signs were BULLISH..... but i dont find any crossing of TL & SL at Red arrow which is 1st & foremost condition for initiating any trade. There is a Xing but of DL & TL that too within the cloud. At 2nd trade (blue arrow) i find that there is crossing of SL & TL but below the kumo though price line is above.Does it affect trending ? Please comment on my observation. Kindly note iam "ZERO" in TA but willing to learn through U ALL. Plz tell me what is 26 std line repeatedly used by our brother LINKON. Thanks & sorry if my observation bothered U. ALL r welcomed to express their opinion on this. Thanks again to u & ALL. Happy trade.
26 std line is chikou span. it is in fact the price line lagging by 26 bars. if u change the chart pattern from candle to line chart...you will get the answer.. The idea behind this chikou span cross above/below the candle is that the present price has closed above/below the average price of the last 26 bars, which leads to trend reversal for that particular time frame.