Closed long on BAS @7.55 (+22.4%)

14 0 0
1 - Downswing on increasing volume and tight closes: the accumulation phase started here
2 - Decreasing volume on down bars: sellers are exhausted
3 - Effort to rise on ultra high volume: market doesn't like this kind of candles because they could hide sellers, so the stock pauses to test supply
4/5 - Two tests of supply but the following candles failed to confirm them: still weakness
6 - Narrow bar on ultra high volume and the next candle closes higher: stopping volume , more accumulation
7/8 - Confirmed tests of supply
9 - Lack of demand at these prices
10 - Another confirmed test: good long entry
11 - No supply test after an effort to rise candle. This test is confirmed by next candle's closure although volume is low
12 - A narrow spread candle on high volume: this candle could contain some selling
13 - Long spread candle on average volume that closes in its middle: this candle could contain some selling too

Since company's earnings for Q4 2014 will be released on February 19th, I was looking for an exit after the strong really to avoid holding the stock into the news. Candle 12 was a first sign of weakness and I thought it was the right time to close my long. On Monday, the stock opened strongly and I decided to let it run but during the middle of the session it started retracing so I decided to close it.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out