I don't know guys. I see a lot of signals in ORCA's chart. Yes fundamentals are important but heng, if the market gives you stuff on a silver platter, why ignore it? I will tell you what I see in the chart.
Just before the gap there was a drop. The candle formation right at the top is an engulfing red candle, engulfing a green candle. I would have traded that short if I could via a CFD and would have put my stop at the top of the red candle. At least that was a signal that price might drop. Further down that drop their was another red engulfing.
Right at the bottom there was what I call a shark. Have you seen a sharks mouth open? It's red. Look at the bottom you see a red candle swallow a green candle completely. I would have exited my short or would have bought the share at that stage.
The gap is a continuation gap. That was buying force and if you know candles, a gap in this case (especially shares), creates a support level.
I see 2 Highwave candles at the tops. Normally highwave candles indicate a change of direction. It's when the bears and the bulls are sort of in limbo.
And lastly, when the gap closed we got a piercing pattern at a bottom on a resistance level. I would have gone long there. There was a lot more signals but I am tired of typing.
I hear what you are all saying but knowing your candle formations that is a reflection of price, just can't be ignored.
