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Jako, bar 4 on the daily am I correct in thinking that's a...

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Zandaya

2,953 Posts.

33

19/02/16

23:24

Post #: 17070446
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Originally posted by Jako64 ↑

OK here it is.... and yes both @Zandaya & @nickd both knew the first bar showed support of some type.
And yes, it was possibly stopping volume, but rather than debate whether that was the correct name or if it was "strength coming in' or some other named bar.
Let's just say it showed decent strength, and it may be enough to switch the background sentiment from weak (after that strong selling we saw a few weeks ago), to strong again.
Anyway,
firstly on bar #1, price sliced down with a widespread, accelerating lower, and possibly stretching lower to look for support.
Note- the close is well off the eventual lows, which suggests that buying/support/accumulation may have arrived.
And this (buying) was confirmed with the next bar closing higher.

View attachment 146081

and the daily, to look inside that widespread down bar on the weekly, with a plethora of notes...... hopefully not too many, and you guys can follow what I am on about..... Let me know if it is too confusing.

View attachment 146083

cheers

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Jako, bar 4 on the daily am I correct in thinking that's a shakeout bar?
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