Golden Rule of Candlestick Patterns - Steve Weissman8 & 9 Consecutive Red Candles are rarely seen and definitely state the immense urgency of investors to Exit.
Usually "Strong" markets tend to reverse after 9consecutive days of RED candles.
There ought to be a Major Reversal candle in few day, failing to do so, will indicate markets are due for major sell-off in subsequent weeks.
The selling in such situation can be quite intense leading to major structural damage to an ongoing trend.
Market participants need to be very alert after 8/9 days of Consecutive Red candles both in Longs or Short.
There could either be a Turnaround or major ongoing Trend Destruction.👍
#NOTE :
This is Observation of Rare Patterns in #Nifty,
Outcome of all event may or may not be the Same.!!
Take this for learning purpose & see the probability of the Next Move👍
What levels to #WatchOut.:
#Nifty Important Support can be 16900 - 17100
There is High Probability Reversal from there for 17350 - 17550 - 17750👍