Trader's Logbook

Looks like a good sign for COAL to finally reverse soon. Today COAL close at 1.06 16.48% from last Friday’s price. The price movement creates a White Opening Marubozu candlestick which may signal the start of a bullish trend. But since this is only a one-candlestick pattern, it has no strong reliability. Bullish bias can [...]

Low reliability candlestick called Hammer can be seen on COAL’s chart today. Is it the start of its bounce or just a fake signal? There might be a chance it will go up but chance might be slim since Hammer has a low reliability. BUY signal on RSI is not reliable either because of the [...]

Long green candlestick can be seen on today’s COAL chart. Long green candlestick show strong buying pressure. This candlestick is an indication that the closing price is further above the opening price. It shows that the prices advanced significantly from open to close during the day under strong buying pressure and buyers were aggressive. This [...]

Looks like COAL is now aggressive and bulls want to dominate the battlefield. After COAL was in red territory the bulls push the price up and made it stay bullish until closing. Thus we see a candlestick with a long lower wick. It seems that the sellers have already gone? We may consider today’s candlestick [...]