When the open and close are same at the day end this pattern is good for intraday for the next day. When to buy a stock? When it trade above the yesterday high we should buy the stock we should keep the stoploss as yesterdays low. We should calculate using,
First Target:
Formula: (Yesterday high-yesterday low)/2 + Yesterday high It will be achieved on the intraday itself.
When to short on a stock for intraday?
When the stock is traded below the previous day low we should go for short and stop loss is previous day high.
First Target:
Formula: (Yesterday high-yesterday low)/2 - Yesterday low It will be achieved on the intraday itself. The above tips is only for intraday.