After accumulation phase (indicated in graph), Mark Up phase is expected. Share has also made Marubozu pattern (shown in graph) with very good volume. EMA 12 days has also came above EMA 26 days. All these things predict upcoming Uptrend.
Hi, Since most of your Analysis is based on MARUBOZU, I looked into it and decide to make an indicator based on it. Since someone in the comments said that MARUBOZU means PAUSE in the upward momentum, I thought it would be nice to check using an indicator making it as a long_weekend _project, if i can finish it by that time. As of now its simple. may be i;ll add more of your contraints like the 12/26 ema crossover and all. lets see
This is how i looks now. where it checks that there no wick at the bottom.
Ankita_yadav
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@Einstein15, Hello..nice to know that. Good idea it is. For marubozu, I look at either no wick or wick less than 5%, both for bullish or bearish marubozu. All the best for your weekend project. Waiting to see your indicator.
This is how i looks now. where it checks that there no wick at the bottom.