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Monday, June 05, 2006 1:24:16 AM
Last friday's trade formed a White Marubozu. ( i dont know if this is correct, i am still learning..lol )
The last two candlesticks formed a Bullish Engulfing Pattern . This is a bullish reversal pattern that marks a potential change in trend. However, its reliability is not very high and it requires confirmation..
HERE'S WHAT WE LOOK FOR TOMORROWS TRADING!!!WE NEED ATLEAST ONE OF THE TWO ( BELOW ) TO CONFIRM THAT WE HAVE INDEED A BULLISH STOCK..
FIRST, The market opens with an upward gap, signaling a bullish sentiment in the first case. The benchmark will be the opening price.. Any white candlestick with an upward gap is a valid confirmation criterion.
In the second case, the market opens at a level, equal to or below the previous day’s close. The benchmark is that closing price. If prices during the session stay over the benchmark you better hold onto for a long haul... Any white candlestick closing above the previous close confirms the bullishness of IVFH..
HAVE A BULLISH DAY TOMORROW!!!
LAKINGSPHAN!!
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