Comment on Single Candlestick patterns (Part 1)

rohan commented on 17 Jan 2016, 05:05 AM

want to know this is a good shorting opportunity according to checklist or not-
1. Bearish maubuzo pattern is formed
2. Its formed near support and is about to break it ,if price falls further.
3. Volume is higher than previous days.
4. MACD is confirming. RSI is 34, according to RSI stock is reaching over sold region, so chances of reversal are there?
5. DOW theory- not sure ( my only observation is stock is moving in bracket)
6. RRR – reward=2188-2339= 151, risk(sl)= 2390-2339=51, RRR= 3

plz tell my calculations are correct or not and should i go for shorting opportunity tomorrow or not?

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