Price Action Question? Two bullish Candles.
- Thread starter dominover
- Start date
What timeframe ?
Wasn’t able to find it.
Looks like a nice bounce from support on the monthly.
Ok, it is a less liquid stock on daily timeframe. It looks like uptrend is intact, so next goal is to fill in the gap some months ago (around ca. $36). So there is room for further upmove. It loses little bit on momentum but not that much for a reversal right now. If you have a long position then I would place a stoploss no further than the low of last red candle here. Then the uptrend changes to downtrend which is the next overall larger trend on that time span on your chart.
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That "pattern" is called free azz chit data.
Look at intra day bars for Thurs and Friday. Clearly shows that daily bars are completely wrong and just a duplicate of Thursday.
Yeah, thanks for pointing that out. You're right!
The responses have been very useful anyway. I bought in at 32.17 at the bottom end of that value area and can see that more recently allot of volume came in right where it last touched, around 34.66 on the 6th of September.
If it makes it past that, it'll probably fill the gap and I'll be watching what it does from $36 as TrAndy mentions.
Coming to think of it, I've seen this duplication issue before but forgot about it.
If it can clear current resistance and fill gap from 9/13/22 might have some room to run even higher.
GL