technical Morning Star setup in a Banknifty Daily

Generally morning star appears in to the starting of a trend is more valubel

but this time into banknifty morning star appears at all time high so don't worry we can trade this with the same formula



buy between 46800 to 46500

stoploss 46400

target 48000, 48500

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little description about MORNING STAR
What Is a Morning Star?
A morning star is a visual pattern consisting of three candlesticks
that are interpreted as bullish signs by technical analysts.
A morning star forms following a downward trend and it indicates the start of an upward climb.
It is a sign of a reversal in the previous price trend. Traders watch
for the formation of a morning star and then seek confirmation that a reversal
is indeed occurring using additional indicators.

KEY TAKEAWAYS
A morning star is a visual pattern made up of a tall black candlestick, a smaller black or white candlestick
with a short body and long wicks, and a third tall white candlestick.
The middle candle of the morning star captures a moment of market indecision
where the bears begin to give way to bulls. The third candle confirms the reversal and can mark a new uptrend.
The opposite pattern to a morning star is the evening star, which signals a reversal of an uptrend into a downtrend.
What Does a Morning Star Tell You?
A morning star is a visual pattern, so there are no particular calculations to perform. A morning star is a three-candle
pattern with the low point on the second candle; however, the low point is only apparent after the close of the third candle.

تعليق:

am not a Certified registered analysist
this is just my observation for practice and learning purpose of chart reading,
Must take advice from your financial advisor before trade

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any related query allow me to answer

if this idea is use full
like and share also follow and comment your thought about this analysis

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huge profit running

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48200 achieved today
around 1300 point profit running

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both target 48000 and 48500 fully achieved today

أغلقت الصفقة: تم الوصول للهدف

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i am closed this trade but must check the power of analysis and this pattern

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price still there where we started before 2 month