It is not known much, one of my old friend identified this candle reversal pattern identified this pattern ,way back in around 1996..its called A DYNAMITE.
it develops when one candle has very high shadow (inverted hammer or a shooting star) FOLLOWS by a
a candle with a big lower shadow (HANGING MAN ).
THE implication of this pattern is an EXPLOSIVE down move, when it appears at the TOP.
For my readers though, 5924 /5700 nifty targets have been given, earlier.
it will be intersting to know when the pullback rally actually ends.
it will be a close below 5098,i would call the pullback rally to end.
heres the nifty chart.
2 comments:
close bellow 5098 might be typing mistake
any article related to DYNAMITE
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