In a single sandle stick chart, there is marubozu,doji, spinning tops, paper umbrella etc. , my question is if we have to get general view of market only whether only marubozu is enough?
Marubozu is simply a long candle with close near/at its highs/lows. I personally don’t see any significance of it. If you are on 15 minutes timeframe and see a Marubozu candle, it is only telling you that the trend for that 15 minutes was bullish/bearish. But if you want to have a general perspective, its best to see the overall trend. Open up a chart with around 100 candles in the chart, then just see which way price has gone from left to right. If your eyeball goes from bottom to top, then the trend is up and vice versa for down trend. There are many ways of determining a trend, this is just one. Hope it helps.
rahul can you tell me more about 100 candles in a chart , so i can study more about it and tell me whether 100 candles chart is also helpful in option writing
Nishant, do u know how to share images here? I’ll upload an image and explain.
actually rahul , i am also new to this trading q&a , does not know much about it , but is ther any website where i can read about it
Nishant, as far as options is concerned, there is nothing that I know about as I don’t trade options nor got any interest in learning it, for the simple fact that options are very illiquid in India. As far as 100 candles is concerned, just open Nifty daily timeframe and have around 100 candles on the chart. 100 candles can vary based on your preference, it could be 120 or 150 or 200 or any other number which suits your psychology. No hard and fast rule here. Once you open it, just glide your eyeball from left to right, you will see that the price action is going from the bottom to top, which simply means trend is up at this point(as per my analysis). Write back if you have doubts.
thanks brother , i will check the chart and tell you if there is any problem in it
Welcome! I don’t know of any website/book which explains this, its just by trial and error that I learnt it.