Usefull CANDLEPATTERN for INDIANSTOCK

Discussion in 'Technical Analysis' started by candle4all, Feb 16, 2006.

  1. candle4all

    candle4all New Member

    Joined:
    Feb 7, 2006
    Messages:
    3
    Likes Received:
    0
    Trophy Points:
    1
    Hi friends,

    I am searching the verious candle-patterns for indianstocks,
    I am from GUJRAT-INDIA,
    From many patterns i have found, one is here(After read this,you have to understand the attached file also):-

    ANALISYS OF THREE CANDLES(with hangingman):-

    3 days data are required (open,high,low,close),after analysis these 3 days,
    4th day is your TRADING-DAY.

    SITUATION OF THREE CANDLES:-

    1st day:- There is a WHITE-CANDLE
    2nd day:- There is a BLACK-CANDLE in HAGINGMAN situation with close above FIRST DAY'S HIGH &
    3rd day:- Any type of candle with close below FIRST DAY'S HIGH

    PSYCOLOGY OF THIS PATTERN:-

    1st day:- White candle indicates that BULLS are interested,
    2nd day:- Black candle in HANGINGMAN situation indicates that
    BEARS are trying to control the Game &
    3rd day:- Close below first day's high indicates that BEARS have controled the GAME.

    ANALYSIS OF THIS PATTERN:-

    1. First day's high is the MAJORE-RESISTANCE for the STOCK,
    2. Near above 3rd day's high is your stoploss for SHORT-SELLING
    3. This is only for 4th DAY-SHORTSELLING ( INTRADAY-TRADING ).

    YOU CAN SEE THIS PATERN WITH MANY STOCKS(NSE) IN ATTACHED FILE(xls)

    I have found more than 90 % surity ( intradaytrading-shortselling)
    with this pattern.

    ** SENIORS & OTHER MATURE T.A. are requested to comment & reply,

    Thanking you for read this,
    candle4all
     
  2. rangarajan

    rangarajan Well-Known Member

    Joined:
    May 17, 2005
    Messages:
    1,449
    Likes Received:
    1,436
    Trophy Points:
    113
    Dear Canndle,
    Yr attachement could not be opened.
    ranga
     
  3. trade4win

    trade4win New Member

    Joined:
    Jan 31, 2006
    Messages:
    13
    Likes Received:
    0
    Trophy Points:
    1
    I have openned the attachmet,

    Reallllyyyyy amaging

    Great.........Great......Great
     
  4. trade4win

    trade4win New Member

    Joined:
    Jan 31, 2006
    Messages:
    13
    Likes Received:
    0
    Trophy Points:
    1
    Dear RANGA,
    Please try again
    attachment can be opened
     
  5. dilip2k

    dilip2k Member

    Joined:
    Oct 18, 2004
    Messages:
    71
    Likes Received:
    2
    Trophy Points:
    8
    its a nice quest!
    searching for the holy grail, hope you dont miss the forest for the tree.

    You are in a secular bull run, catch any correction and you will make money.
    The real test comes when the trend changes.

    wish you well

    regards
     
  6. rangarajan

    rangarajan Well-Known Member

    Joined:
    May 17, 2005
    Messages:
    1,449
    Likes Received:
    1,436
    Trophy Points:
    113
    Dear Candle,
    Thank you & i could open the attachment.you have not mentioned as to when the stock should be sold on the fourth day with relevant to the third day prices since in many of yr sample study ,the volatality is not much & hence exit may be difficult.Could you discuss a specific stock except ACC where the volatality seems to be an exception.
    By the way Dilip,i am told that most of the successful day traders have made more profit by selling rather than buying.this is due to Newton"s law.
    Best of lucks,
    ranga
     

  7. dilip2k

    dilip2k Member

    Joined:
    Oct 18, 2004
    Messages:
    71
    Likes Received:
    2
    Trophy Points:
    8
    Well , lets have the name of one legendary day trader, who survived the markets 10 years. Would be a pleasure to know.
     
  8. sudoku1

    sudoku1 Well-Known Member

    Joined:
    Oct 23, 2007
    Messages:
    10,898
    Likes Received:
    17,351
    Trophy Points:
    113
    http://www.traderji.com/general-chit-chat/76650-nifty-50-_bulls-44.html#post812334
     

Share This Page