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Day Trader’s Aftermarket Lounge 26 May 2020, page-104

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slick

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27/05/20

10:44

Post #: 44861754
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Originally posted by Lambrae: ↑

OT .Hey Slick , I would use the surrounding context to interpret those final candlesticks ( because I haven't studied candlesticks much ) The share price has some reason to sell at the point that it is at - due to hitting very significant upper resistance . To go higher , it also may need to pullback at least a small bit further than it has ,so that that pullback becomes bullish, rather than bearish- and build some support below to spring from .You may also see it turning the resistance line above into support . It is also just hitting overbought levels here anyway. To come out of overbought ,in order to go higher , the sp has to go down or sideways. You want to see that happening without seeing any evidence of the big player selling. The rise looks to me like the big player has participated in it. Just saying that the context helps to interpret the candles . Keep in mind that I may be wrong .

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Brilliant Lambrae, thanks.
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