Hi, I’ve a few doubts after reading about TA on Zerodha Varsity. I had to ask the question there itself but dunno why the comment system is not working(Please, do get it fixed or checked)
1)In this image(screenshot of charts above), I’ve marked an arrow pointing to a stick, please suggest that isn’t it a shooting star as well? It looks pretty same as the circled ahead.
2)In this image(from above charts), the stick I’ve pointed is after an uptrend and has upper shadow definitely more than 2x real body and even further the chart went bearish. So isn’t it a shooting star?
3)Last question, does the size of real body really matters for shooting star and umbrellas( hammer n hanging man) when every other aspect fulfills like its after down/up trend, has 2x or longer shadow?
Not sure why you were unable to post this query on Varsity. We will look into that.
Yes, it resembles a SS but its not. Remember, a SS is called a SS only if it is found after an uptrend. Without the prior trend, the candle only resembles a patter but its not the patter.
In this case, the range is so large that the range itself becomes the main point of study rather than candlestick patters
Yes, ideally a small real body followed by a shadow which is 2x of the real body size is considered a good paper umbrella.
On the first image where I asked about whether it’s a Shooting Star or not. The prior trend is up as its showing in image 1 so why is it not a pattern ?
So what you mean in it’s fulfills a pattern aspects but due to very large range we shouldn’t consider it one ?
2a. Also, is the lower shadow in image 2 is fine for a shooting star ?
So, even if a body is quite big but it’s after a trend and has 2x or more shadow it’ll still be called a umbrella or shooting star ?
Ya, whenever I try to post on Zerodha Varisty it just reloads the page and the comment doesn’t get posted. Seems like a bug.
