I have been observing UCO bank for past couple of days and most of my studies proved right except the one when I saw a red candle on peak on 26th. I anticipated an evening star formation and out of excitement I forgot that evening star is three candle pattern and in haste I took wrong decision and fortunately I reversed the trade next day. (instead of waiting till I repent).
See the candle at top that has no shadow. It is candle that is usually not found. It has no upper or lower shadow. You can say shaven head and bottom.
Now its kinda discovery; finding something in realty that is been read in theories. Im really excited to explore more of this candle and belevive me Im busy finding more such candles on EOD charts. And after seeing almost 50 charts I haven’t found yet so we can believe its claim to be a rare candle is true.
This is Marubozu candle denoting a bullish price movement. Rather say extremely bullish. It suggest that bulls dominate the whole session. Its basically a continuation pattern so we can anticipate further surge. Lets see the impact of Marubozu.
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