Digital Marketer- E-Commerce | Trader | Charts has a language | Student of stock market| NISM | Beginner in long-term investing | Investor|Sports Lover
Jan 10, 2021 • 11 tweets • 5 min read
" All about BULLISH and BEARISH ENGULFING "
~ This pattern is one of the most common candlestick pattern yet sometimes people are not able to trade it properly.
~ They both are the trend reversal candlestick pattern.
~ It is a two-candle pattern.
Bullish Engulfing
~ In this pattern, a large bullish (green) candle completely engulfs the small bearish (red) candle
~ This pattern is credible only when it is formed at the bottom of the trend
~ Prior trend should be downtrend before the formation of this pattern take place
Jan 7, 2021 • 7 tweets • 4 min read
Reason & Psychology Behind my trade #BHEL
~ I saw rounding bottom pattern formation in Daily chart as well as various base formation on weekly chart.
~ Generally, I initiate buy trade after I expect 3rd base formation on weekly chart.
The advantage of rounding bottom or big base formation is that we can capture the trend 10% to 15% early i.e before breakout
Sometimes risk to reward ratio is far more important than accuracy
I expect these rounding bottom or big base formation may later convert into an uptrend
