Originally posted by scooter83
Hi
@rick64, I still consider myself an amateur chartist so perhaps
@valvesound or
@Cabbie could also chip in. IMO where you have indicated a bearish gravestone doji, I believe the open and close need to be right at the bottom but having a small wick at the bottom could indicate some level of resistance to keep the SP up? It could also just be someone trying to test for stop-losses before buying up to prevent an immediate loss on any potential sell down. It may not be the best practice but I am a little generous at times at setting my stop-loss a few points below a trend line and generally set alarms so I can review the volume unless I am unable to monitor the daily trades.
At the moment, the reassuring points for CDX are that it is tightly held, new events are very close regarding Coop's China trip as well as the recent testing done. I still believe there is support at 0.047 and I believe 0.051 - 0.052 to possible be a new point of resistance to be tested.
OT - CDX, I wouldn't really look upon that as a gravestone doji
@scooter83, the little lower wick even though it is small takes away a lot of the bearish influence, also not quite at the right place in the trend perhaps.
I would be more concerned about the influence the upper wicks are having on the trend, you are right though in saying that many doji's including this one are produced by traders/pros searching for triggers.
