๐๐๐๐ฅ๐ก๐๐ก๐ ๐ฆ๐๐ฅ๐๐๐ฆ: ๐๐๐ก๐๐๐๐ฆ๐ง๐๐๐ ๐ฃ๐๐ง๐ง๐๐ฅ๐ก๐ฆ (๐ฃ๐๐ฅ๐ง-๐ฉ)
[๐ง๐ฅ๐๐๐ ๐ฅ๐๐ฃ๐๐๐ฌ]
DATE: 2nd,3rd January 2025
TRADE LOGIC: Trend Reversal with "๐๐๐น๐น๐ถ๐๐ต ๐๐ป๐ด๐๐น๐ณ๐ถ๐ป๐ด" & "๐๐ฒ๐ฎ๐ฟ๐ถ๐๐ต ๐๐ป๐ด๐๐น๐ณ๐ถ๐ป๐ด" confirmation along with EMA.
Timeframe: 15 mins
Indicators used:
1. Exponential Moving Average [EMA9]
2. Volume Indicator with MA line
3. William Fractals [Periods:4]
> ๐๐จ๐๐๐๐ฆ๐ ๐๐ก๐๐จ๐๐๐๐ก๐ ๐๐๐ก๐๐๐ ๐ข๐ฉ๐๐ฅ๐ฉ๐๐๐ช:
โข A bullish engulfing candlestick pattern signals traders that the market is about to enter an uptrend after a previous decrease in prices. This reversal pattern indicates that bulls are taking control of the market and may potentially drive prices much higher, indicating the ideal opportunity to initiate a long position.
โขBullish Engulfing Candlestick Patterns occur in any market and on any timeframe, but they are most effective when they appear after a downtrend. This is because the pattern represents a shift in market sentiment from bearish to bullish. Pattern occurring after a downtrend suggests that the bears have lost control and that the bulls are taking over, which can lead to a trend reversal.
> ๐๐๐๐ฅ๐๐ฆ๐ ๐๐ก๐๐จ๐๐๐๐ก๐ ๐๐๐ก๐๐๐ ๐ข๐ฉ๐๐ฅ๐ฉ๐๐๐ช:
โข The bearish engulfing pattern is important because it shows sellers of a particular stock have overtaken the buyers of the same stock and are pushing the price more aggressively down, than the buyers were able to push it up.
โข The bearish engulfing pattern typically occurs when market sentiment shifts from bullish to bearish (buying trend to selling trend), which can happen for a variety of reasons.
๐ง๐ฅ๐๐๐ ๐ฆ๐จ๐ ๐ ๐๐ฅ๐ฌ:
> For the bullish trades ๐, waited for price to close above the EMA and give a retest confirmation. The trade taken on the next candle if the retest candle sustain above EMA
> Similarly, for the bearish trades ๐ waited for price to close below EMA and give a retest confirmation.
***Note: The price > EMA (bullish) and price < EMA (bearish). A retest confirmation is always better for a good trade***
๐ง๐ฅ๐๐๐ ๐ฅ๐๐ฆ๐จ๐๐ง๐ฆ:
1. Hero Motocorp (4211 to 4321) [2.61%]
2. Multi Commodity Exchange of India (MCX) (6280 to 6141) [2.21%]
**Experienced Traders already know these things, shared as a learning for new traders**
๐๐ญ๐๐ฒ ๐ญ๐ฎ๐ง๐๐ ๐๐จ๐ซ ๐๐๐ฌ๐ญ ๐๐๐ซ๐ญ-๐๐
๐ก๐ข๐ง๐: This is only for Educational Purpose and no further Trading recommendations on this stock. Indicators are just a confirmation for your direction but the actual movement depends on various factors.
Please manage your Risk Reward Ratio to grow your wealth.
#๐๐๐ง๐ฃ๐๐ฃ๐_๐ฃ๐๐๐๐จ_๐๐๐๐ง๐ฃ๐๐ฃ๐
#๐๐ค๐ก๐ก๐ค๐ฌ ๐๐ค๐ง ๐ข๐ค๐ง๐
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