Friday, 2 November 2012

Watch out for the hammers

Not sure if you remember my post on "the stars are starting to appear..."back on 18 Sep.

Today I write the other version of it. Watch out for the hammers and this will be how i can potentially trade it.


As in a shooting star, the hammer in the candlestick is the other opposite version of a reversal signal at the end of the "correction". The aggressive trader will buy near the close of 1.07 yesterday and put a stop loss at 1.02. The less aggressive trader can buy this morning and use the same stop. The first target will be around 112-114, the second target will be around 116-120 and the more aggressive target will be around 122-124. Since the price has already moved up, i will also move the stop to around 106 to ride the stock.

Shooting stars again?

GLP and Osim showed shooting stars today and i will usually tighten my stops if i am trading the position.

Happy trading.

1 comment:

  1. Talbros Automotive Components Q2FY18, YoY
    o Revenue up 26.25 percent at Rs 101 crore
    o Net profit up 133 percent at Rs 7 crore
    o Ebitda up 29.9 percent at Rs 10 crore
    o Margins at 9.9 percent versus 9.6 percent
    Share Market Company


Related Posts Plugin for WordPress, Blogger...

Google Analytics