Trader's Logbook

Quite a few failed technical bounce plays for PHES already and today might be its last chance to bounce or else it will fall into the abyss unless 0.58 will hold. Today’s candlestick formation is what we call a Harami Cross which is has a medium reliability for reversal. This is formed when a red candlestick is followed by a Doji. The second candlestick’s shadow’s may not necessarily be contained within the first candlestick but its better if it is. Will the sentiment be reversed at the point like last time when we see a Hammer few months ago? Or this will rest in PHES?

Caveat!