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!
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