TB; RE:" SBC doji JuJu "
>Is that a Doji ju ju on SBC ?
yes. But there are multiple doji's on the daily chart, and all that indicates is a lot of "indecision" sentiment, with equal numbers of folks hopping off the train and getting back on, day after day. Two consecutive dojis tend to negate, as in "-1 = 'reversal' doji" followed by "-1 = 'reverse' that first sentiment". Indecision is not good for momentum, discovered the Japanese trader Munehisa Homma, 500 years ago, as he drew charts on rice paper (^_^)
What you look for, intra-day or otherwise, is a drop (red candlestick) followed by a doji (perhaps even gap-down a bit), then a rise (white candlestick, perhaps even gap up a bit) that carries past the mid-point of that first red candle; ie., RED - gap-down DOJI - gap-up WHITE candlesticks = Morning Star reversal.
How's the phone phleet doing today, TB ?
-Steve |
