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So the next bullish reversal pattern that is bullish piercing, as you can see on the left side, that

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bullish we're seeing contains two countries.

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First one is bearish one and second is bullish one.

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And this pattern is similar to bullish engulfing, you can say it's a slight modification of bullish

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engulfing pattern.

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So full of scandal is a bearish scandal which lows lower second can open lower than the close of scandal.

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And second scandal that is growing.

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Scandal is closing halfway.

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So this is the halfway of bearish scandal, 50 percent line.

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So this bullish scandal is closing above the halfway off Barry scandal.

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When this happens, this is called less bullish passing.

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So you can say that as compared to bullish engulfing, bullish piercing is little less convincing because

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ideally speaking, it should have gone up and it should have closed above the high of previous scandal,

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which did not happen in this case.

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So it failed to break the hype.

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So it is still below the resistance of this particular scandal.

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But as you can see, it is a milder version of bullish engulfing.

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And yes, bullish pricing is, again, a pattern that you can consider while trading, but comparatively

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bullish engulfing is more stronger, more convincing and more profitable as compared to bullish piercing.

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So quick recap.

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So it has to come.

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This market is in downtrend for scandal is bearish one, this one and second.

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Kandal is bullish, of course, which opens lower than previous lows.

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So this is very open, lower than the previous close and it closes above the midway.

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So this is the midway of bearish and it is closing above this midway of bearish candle body.

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This is the midway of body and not of the land that you have to understand.

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So it indicates that bulls have control, but lower as compared to bullish engulfing pattern will go

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to charge and see few examples and see how you can trade bullish versing.

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This is a chart of ONGC.

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So can you spot a bullish person in this case?

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I can see two things.

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So first thing that I can see here is this one.

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Isn't it?

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Of course, this country did not lose a Bohai of this, but yes, it flew above halfway mark.

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It was falling.

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The next scandal open bullish one.

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Yes, we can go for this.

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And you can see the market rallied.

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And I'm sure it is true or in this case would have been more than one to one.

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There is another bullish person that I can see.

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This one market is falling.

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Take one then next scandal.

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This one opens bullish.

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So tech two, we can go along on this.

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So its immediate target would be this support which which is going to become resistance to achieve the

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target.

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But then you'll have to find out what is the risk reward in this case.

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Now, since I've already told you how you can calculate the risk reward a lot, again, do it in this

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case.

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But yes, you can always calculated risk reward and find out the attractiveness of this trade.

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So if you are about one to do, it's good you can go for it.

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So this is an example of bullish purchasing.

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I'll give you an example of bullish purchasing which did not work, and let's then find out the reason

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why it did not.

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So again, on ONGC, we will try to find out whether we have a fail button or not.

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So can you see here?

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This is a.

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Bullish.

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Piercing pattern, isn't it?

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Pay attention here, I would like your attention for a few minutes, try to understand.

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First thing is market is falling, second thing bullish engulfing, third thing is market open higher

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and so bullish openness there.

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So all three conditions, you can see the two conditions are satisfied.

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But.

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Just tell me what would have been the risk reward ratio in this case?

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Do you think that it is attractive?

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I don't think so, because see here, this scandal is so big, so long.

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And we say that our stop loss will be below one year of this law, so this law itself is so far away

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from altricial.

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This is the law, 162 another in this case.

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It was almost six points, so 163, minus six.

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That is 157, so 157 is our exit point.

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And where we are entering, we're entering here.

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We are doing into 175 minus 157.

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So almost 18 points to risk and reward is next immediate resistance.

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So that is this.

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So 190 minus seventy five.

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So in this case, we are gaining 15 points and we are losing 18 points.

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So our risk is more than the reward.

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So it is less than one reward, is less than one that of risk.

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So in this case, even though it is a bullet piercing, I may not go for this because the risk reward

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is not attractive in this case.

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So although it failed.

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So you can see here that this pattern failed and it did not reverse.

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It should have gone up like this, but it fell down and it failed.

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But.

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To be frank, we are not going to trade this pattern because it's a risk reward is not attractive.

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So this is how you can forget about the trade and find out what is good and what is not good for you.

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But yes, as I told you that two to three times in 10 trades, you will find out that even though everything

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is right, the the pattern may not work.

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That can happen.

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So in that case, you have to get out of the trade when you stop plus gets hit.

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So you don't have to wait.

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The market has reversed.

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It has failed for it to go for it.

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So this is how you can calculate the risk reward on bullish person.

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I hope you'll be able to do this.

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Let's now see the next type of pattern.