Watch out for the hammers
By Mr. IPO  •  November 2, 2012
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.

Hammer


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 ...
...
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By Mr. IPO
Mr. IPO graduated from NTU with a Bachelor in Accountancy (Honors) and started life as a lowly auditor. The audit experience not only polished up his accounting skills but also made him very skeptical about the financial records of companies. He always read the financial reports with a huge dose of salt ...
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