Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Sunday, July 28, 2013

Outside - Inside Patterns

Weekly Chart

 The Outside day  is when the present candle completely encompasses the previous  candle. It must have a higher high  and a lower low than the previous day.Inside day  is when the present candle is completely encompassed by the previous  candle. It must have a lower high  and a higher low than the previous day.

Outside and Inside Day Patterns are reversal patterns which have worked well on  Nifty's weekly chart.The tiny blue horizontal lines indicate Outside days and the red one is an Inside Day.Observe how the previous trend has reversed each time.

The week gone by has once again formed an Outside day pattern.Break below the low of the pattern which is 5869 will therefore spell trouble for the bulls.

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Happy Trading !!

Lakshmi Ramachandran

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