4/10 Analysis
Monthly
1. Strong uptrend (above 20MA)
2. 1/9 candle : Bearish candle because of it's long upper and lower shadow, which reflects extreme market volatility. The inability of either the buyers or sellers to control price, resulting in a doji, implies indecision. Found after a rally, it marks the exhaustion of the uptrend.
- Possible major reversal candle, but wait for confirmation. For conservative traders, sell when candle close below 428.61 (3/8 low)
Weekly
1. Strong uptrend (above 20MA)
2. Price is making lower high into support (around 467.20)
3. There is possibility that the price will form bull flag in which the price can move down towards 20MA
Daily
1. Strong uptrend (above 20MA)
2. Two possible pattern
- Ascending triangle
- Bear flag, and this becomes invalid when price breaks resistance (589.07), all time high
3. Currently at consolidation
4. Strong bearish candle (2/10) probably continues
Hourly
1. Healthy uptrend (at 50MA)
2. I identify 2 chart patterns as describe at Daily TF
3. Candle 3/10:0330, sell confirmation
4. I don't feel like opening any position
Monthly
1. Strong uptrend (above 20MA)
2. 1/9 candle : Bearish candle because of it's long upper and lower shadow, which reflects extreme market volatility. The inability of either the buyers or sellers to control price, resulting in a doji, implies indecision. Found after a rally, it marks the exhaustion of the uptrend.
- Possible major reversal candle, but wait for confirmation. For conservative traders, sell when candle close below 428.61 (3/8 low)
Weekly
1. Strong uptrend (above 20MA)
2. Price is making lower high into support (around 467.20)
3. There is possibility that the price will form bull flag in which the price can move down towards 20MA
Daily
1. Strong uptrend (above 20MA)
2. Two possible pattern
- Ascending triangle
- Bear flag, and this becomes invalid when price breaks resistance (589.07), all time high
3. Currently at consolidation
4. Strong bearish candle (2/10) probably continues
Hourly
1. Healthy uptrend (at 50MA)
2. I identify 2 chart patterns as describe at Daily TF
3. Candle 3/10:0330, sell confirmation
4. I don't feel like opening any position