ZLBT Chats

Thursday, April 4, 2013

FBMKLCI >>> GE fever created a 60+ points range volatility

Stay alert for more potential point range swings
as GE13 approaches
 Note : The FKLI chart created an even more perfect Hanging Man candlestick which is 
an early warning of a pullback from its peak it's peak @ 1705.

Definition of a Hanging Man candlestick
This formation does not mean that the bulls have definitively lost control, but it may be an early sign that the momentum is decreasing and the direction of the asset may be getting ready to change. The reliability of this signal is drastically improved when the price of the asset decreases the day after the signal. Hanging man formations can be more easily identified in intraday charts than daily charts and are a very popular formation used by day traders.

Watchout For a Follow-up Negative Candlestick 

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