O - 1594, H -1601, L - 1593, C - 1601
Well, FBMKLCI has been hovering within the range of 1591 - 1608 (blue highlighted area) these couple of days.
That would act as the support and resistance level.
Somehow the volume today has increased slightly, and it is slightly above the Vol MA line.
Btw, can that be considered as a bullish engulfing pattern, though the second candle (last candlestick) didn't swallowed up the whole of the black candlestick. But it looks almost to swallowing. Can someone advise me on this? Tq in advance :-)
DJIA + 88.25 / + 0.70% @ 10:34pm.
No, its not engulfing pattern.
ReplyDeleteIf you must, its closer to piercing pattern in situation whereby gaps are non existent.
That said, it does not really qualify for piercing pattern either. I think you re reading too much into it that you want to find a candle pattern for it :P
he he.
ReplyDeleteya i would wanna learn just about anything and everything.
And i've got an answer for this, which is a called "kicker". Have u heard of it before?
Kick your head lar... mana got kick :P
ReplyDeleteKicker must gap up above the opening price of the previous down candle. This one tarak.
To want to learn is good. To read too much into the candles and start imagine there is a pattern is no good lar...
Go see this website for easy reference of the candle patterns:
http://www.candlesticker.com
Then need to do some homework to see where the pattern emerge and test the reliabilities :P
Aiyo... Ha ha ha, i never heard of kicker before actually, just told you someone gave me this answer ma.
ReplyDeleteOk la another webpage to save as favourite again. How long to be able to master all ah? So many things ah....... Fuh....
How long have u been a trader and how long did u take to learn and master your TA skills huh? :P
Well, generally people say about 2-3 years to get a good grasp of what is TA all about. For me, I am exposed to most of the concepts within 1 year then spent several more consolidating all of the concepts.
ReplyDeleteIn all, since day 1 till now, about 10 years already, yet I dare not say I have mastered TA :P