Confluence of reversal patterns
This is Daily chart of Bank Nifty which has given confirmation to multiple reversal signals.
1. Rejection Candle on 11-12-23 had a good follow up move today.
2. Price Divergence with momentum Oscillator - confirmed by today's move
3. Bearish Crab pattern activated with today's move. Crab and Butterfly patterns appearing at significant lows / high (like all time lows / all time highs) sometimes gives sustainable trend reversal.
Let's see how this develops further.
Invalidation level above high of 11-12-23
Risk and Reward is all individual's choice.
Happy Trading!
1. Rejection Candle on 11-12-23 had a good follow up move today.
2. Price Divergence with momentum Oscillator - confirmed by today's move
3. Bearish Crab pattern activated with today's move. Crab and Butterfly patterns appearing at significant lows / high (like all time lows / all time highs) sometimes gives sustainable trend reversal.
Let's see how this develops further.
Invalidation level above high of 11-12-23
Risk and Reward is all individual's choice.
Happy Trading!
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.