I am not a chart expert, nor enthusiast, but while we await the next snippet of news, I thought the charting description below offered by Aussie Bulls was entertaining and offered a potentially positive outlook for those that are interested.
Their analysis says after yesterdays .095 close -
BULLISH TRI STAR
Definition
This pattern is a sequence of three Doji. The occurrence of this pattern is extremely rare, so when it occurs it should not be ignored.
Recognition Criteria
1. The market is characterized by a prevailing downtrend.
2. Three consecutive Doji are seen.
3. The second day gaps below the first and the third.
Pattern Requirements and Flexibility
The Bullish Three Star consists of three consecutive Doji, in which the second Doji gaps below the other two Doji. It is sufficient that the gap is a body gap. There is no need for a gap between shadows.
Trader’s Behavior
Bullish Tri Star requires that we have a market, which was in a downtrend for a long time. However, the weakening trend is probably indicated by the bodies that are becoming smaller. The first doji is a matter of concern. The second Doji clearly indicates that market is losing its direction. Finally, the third doji warns that the downtrend is over. This pattern indicates too much indecision leading to the reversal of positions.
Buy/Stop Loss Levels
The confirmation level is defined as the last close. Prices should cross above this level for confirmation.
The stop loss level is defined as the lower of the last two lows. Following the BUY, if prices go down instead of going up, and close or make two consecutive daily lows below the stop loss level, while no bearish pattern is detected, then the stop loss is triggered.
Have a great weekend.
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Last
2.9¢ |
Change
0.003(11.5%) |
Mkt cap ! $72.20M |
Open | High | Low | Value | Volume |
3.1¢ | 3.7¢ | 2.9¢ | $1.433M | 44.19M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
12 | 870964 | 2.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.0¢ | 511263 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
11 | 770964 | 0.029 |
6 | 762196 | 0.028 |
3 | 470000 | 0.027 |
9 | 1461957 | 0.026 |
9 | 1417001 | 0.025 |
Price($) | Vol. | No. |
---|---|---|
0.030 | 511263 | 4 |
0.031 | 1000000 | 1 |
0.032 | 1329989 | 3 |
0.033 | 1056720 | 5 |
0.034 | 903206 | 6 |
Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
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