March 27, 2015
Reading Chart Bar by Bar from March 23
On March 23, we end with the note read.
“Will STI respect the Hammer bearish candlestick; tomorrow will end with a big bearish candlestick? We maybe at a strong level, zone now. Will see.” No. There wasn’t a big bearish candlestick; bull is strong. Bull is trying to fight back; continue to move north.
Let Read the Bar Day by Day
The last bar (on March 23) was a bearish candlestick, a hammer candlestick, a long tail; there were strong selling interest to drive the price below the open price.
Although the swing was a bullish swing low to high, with the bearish candlestick. The direction could change. Look left, there were many tails; could be a strong level, a strong resistance. The price below cross above the zone.
This what we have in our head as a trader. The price can go either direction; the day was bearish, and the swing was bullish.
The next two days, the candlesticks were small and resisted by the zone. The two days were bullish candlesticks, open low and closed high. It represent the bull is strong, the price is likely break higher.
The results of March 26 has confirmed this by a big bullish candlestick. It maintains the swing low to high. It closes to complete the geometry pattern, AB = CD.
The last candlestick has closed higher than the tail of hammer. Bull is strong, but the zone is strong too. Can the bull break away from the bear. Will see.
March 26, 2015 Straits Times Index
Chart worth a thousand words.
March 26, 2015 Straits Times Index, STI
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Moses
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