My thoughts are that this is a classic markdown to test for supply - it drew out sellers and buyers immediately returned to buy the stock and it finished on near it's highs, supply has come in again and is limiting a rise above 77/78.
There is also something that I like to use at times if I'm not sure what a two bar combination means. It's called "blended candles" and I'll stick with that name because the very first candle people used it successfully - we could call it "blended bars".
What I do is combine the two successive bars on a O/H/L/C and come up with a single bar.
So this is what Jako's two bars then become - makes it easier to see why a reversal had to happen or at least a sideways "knock".
-
- There are more pages in this discussion • 331 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
4,880.3 |
Change
75.600(1.57%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 4,804.7 | 4,895.7 | 4,804.7 |
| XTL (ASX) Chart |