Knowledge Sharing Series 18-06-2022

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Candle Sticks patterns are widely used and are very useful. The Reason behind this is, It actually represent Traders Sentiment on Chart. We have multiple Candle Stick patterns. Today we are going to understand one patter named POPGUN BAR PATTERN.

Let us first See what actually Popgun Bar Pattern.

Popgun bar pattern is a three bar pattern. It is formation where Inside bar is immediately followed by Outside Bar.

An Inside Bar formation occurs when High of Current Bar is Lower then Prev. Bar and Low of current bar is Higher then Prev. Bar. Means it is completely engulfed by the bar before it. It represents a contraction in range and a pause in directional trading activity.

An Outside Bar formation occurs when High of Current bar is Higher then Prev.Bar and Low of Current Bar Lower then Prev.Bar. Means one that completely engulfs the bar before it. It shows strength in both directions.

Now Let us see how to use POPGUN BAR for Trading. We can use Popgun Bar in two different ways.

  1. Trading In Trend
  2. Trend Reversal

1). Trading in Trend

Here first we will identify the stock which are trading in trend whether it is UP or DOWN. To do this we can use any trend indicator like Averages, Super Trend, etc. More important thing which we have to check is stock must have retraced and have reversed respecting the Trend Indicator as a Resistance or Support. This is an ideal time to take a trade with the Stop loss of High or Low of Outside bar.


2) Trend Reversal

Here we will search for Popgun Bar at Swing Top or Bottom or with Other Chart Patterns Like Double Top, Double Bottom etc. Popgun Bar with the Positive Outside bar will be Reversal Signal for the Stocks which are in a Downtrend. And Popgun bar with Negative Outside bar will be Reversal signal for the stocks which are in Uptrend. On such setup most of the indicator will not be matching Trade Setup. Here also we can trigger Buy or Sell entry above high or low of Outside bar by Keeping Stop loss of same bar’s High or Low.


Nifty and Banknifty formed the same candle onThursday.This patterns are more useful on longtime frames.It can also be used on Hourly and larger Time frame for Intraday Trading.



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