Just looking at some chart candles and, correct me if I'm wrong, but a DoJi Candle indicates it could go either way but inclines toward the strength. That puts it towards .10+.
There are many candlestick setups that we can look for to find an entry point. If properly used, the doji reversal pattern (highlighted in yellow in Figure 1) is one of the most reliable ones.
(Haven't worked out how to put diagram here yet)
Typically, we will look for a pattern like this with several confirmations:
- First, we look for a volume spike, which will show us whether traders are supporting the price at this level. Note that this can be either on the doji candle, or on the candles immediately following it.
- Second, we look for prior support at this price level. For example, the prior low of day (LOD) or high of day (HOD).
- Finally, we look at the Level II situation, which will show us all the open orders and order sizes.
- Forums
- ASX - By Stock
- IOT
- Chart
Chart, page-127
-
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add IOT (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
AHK
ARK MINES LIMITED
Ben Emery, Executive Director
Ben Emery
Executive Director
SPONSORED BY The Market Online