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DATE: 6th Dec, 4th Dec 2024
TRADE LOGIC: Trendline Breakout with "ššš«š®ššØš³š® ššš§šš„š" confirmation along with EMA
Timeframe: 5 mins
Indicators used:
1. Exponential Moving Average [EMA9, EMA15]
2. Volume Indicator with MA line
š šš„šØšš¢ššØ ššš”ššš š¢š©šš„š©šššŖ:
A Marubozu candle is very easy to spot because of its prominent structure. A candle consists of a long body created by a big gap between the opening and closing price and a very short wick on either side or no wicks at all.
Bearish Marubozu candles signal that the sellers are in full control as they dominated the session in the desired direction, and vice versa for the bullish Marubozu candles.
š§š„ššš š¦šØš š šš„š¬:
Railway stocks were bullish on Friday. Railtel corp was moving in a downward Trendline and then buyers dominated and we saw a formation of Bullish Marubozu.
Similarly, Auto-sector stocks were bearish on Wednesday where the price is moving in a upper Trendline and then sellers dominated and we saw 2 Bearish Marubozu candles.
***Even after formation of Marubozu candles, we should wait for the price to cross the previous low/high.***
***Note: The price > EMA (bullish) and price < EMA (bearish) and the volume should be above Average volume in order to avoid trapping.***
š§š„ššš š„šš¦šØšš§š¦:
1. Railtel Corp (423 to 436) [3.07%]
2. Bajaj Auto (9127 to 8951) [1.92%]
**Experienced Traders already know these things, shared as a learning for new traders**
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š”š¢š§š: 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.
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