Hello Traders,
By now based on my last thread on "Hammer" formation and it's analysis, all the followers must have enjoyed the massive Bull ride till date.
No doubt the country is economically well versed to get back to our old higher levels and in order to make our life more productive and full of richness I am continuing the dominant education to learn and spread Candlestick's power. So far I have enjoyed the effect of "Hammer" which came on 31st August to till date [Remember - Hammer is a powerfull signal for bulls and till date it's hard to break the power of bulls]. With that reality which persists, Bulls are still strong and dominant by which It has been proven by Candlestick's Bullish Stick Sandwich pattern (chart image attached) which was formed off in 3 days time period (15th, 16th & 17th of September). Here is what I followed to get my money implemented on the pattern :-
Till 15th Bulls were at it's strength till the time unfortunately, on 16th the Bears tried to push down the market, but I stayed away from shorting anything as no pattern of engulfing confirmed by long Bear Candle. The next day market moved up and closed positive and I went long on futures (4 lots). The pattern was then confirmed surely with a Bull ride today of about 100+ points up movement. So 4 lots earned me about 75 points and I am still long to enjoy the Rally with Bulls and I am sure this pattern will again give a new high for us. The reason being, as I was reading few forums, I came across following description on this Pattern.
Here is brief on Stick Sandwich pattern :-
The Stick Sandwich looks somewhat like an ice cream sandwich. It consists of two white candles with a black candle in between.The closing prices of the two white candles are equal or near to the equal. This demonstrates an obvious support price. So the probability of a reversal in the trend is high from this area.
As per the Pattern Psychology, The bears have been in control for awhile. At the end of the intermittent downtrend, the last black candle is followed by a large white candle. The white candle opens higher than the close of the last black candle. It trades up for the rest of the day, closing above where the previous day opened. This action makes apparent to the bears that the downtrend may be coming to an end. The next day opens higher but trades down for the rest of the day. It cannot close lower than the previous low close of two days prior. The shorts take notice and start covering upon any buying strength over the next couple of weeks/months.
Best of the Trade,
Arun P
By now based on my last thread on "Hammer" formation and it's analysis, all the followers must have enjoyed the massive Bull ride till date.
No doubt the country is economically well versed to get back to our old higher levels and in order to make our life more productive and full of richness I am continuing the dominant education to learn and spread Candlestick's power. So far I have enjoyed the effect of "Hammer" which came on 31st August to till date [Remember - Hammer is a powerfull signal for bulls and till date it's hard to break the power of bulls]. With that reality which persists, Bulls are still strong and dominant by which It has been proven by Candlestick's Bullish Stick Sandwich pattern (chart image attached) which was formed off in 3 days time period (15th, 16th & 17th of September). Here is what I followed to get my money implemented on the pattern :-
Till 15th Bulls were at it's strength till the time unfortunately, on 16th the Bears tried to push down the market, but I stayed away from shorting anything as no pattern of engulfing confirmed by long Bear Candle. The next day market moved up and closed positive and I went long on futures (4 lots). The pattern was then confirmed surely with a Bull ride today of about 100+ points up movement. So 4 lots earned me about 75 points and I am still long to enjoy the Rally with Bulls and I am sure this pattern will again give a new high for us. The reason being, as I was reading few forums, I came across following description on this Pattern.
Here is brief on Stick Sandwich pattern :-
The Stick Sandwich looks somewhat like an ice cream sandwich. It consists of two white candles with a black candle in between.The closing prices of the two white candles are equal or near to the equal. This demonstrates an obvious support price. So the probability of a reversal in the trend is high from this area.
As per the Pattern Psychology, The bears have been in control for awhile. At the end of the intermittent downtrend, the last black candle is followed by a large white candle. The white candle opens higher than the close of the last black candle. It trades up for the rest of the day, closing above where the previous day opened. This action makes apparent to the bears that the downtrend may be coming to an end. The next day opens higher but trades down for the rest of the day. It cannot close lower than the previous low close of two days prior. The shorts take notice and start covering upon any buying strength over the next couple of weeks/months.
Best of the Trade,
Arun P
