Pirelli (PC.MI)
Last update 19/01/2015
1 - Buyers entered here
2 - We have a low spread candle, closing in its middle with low volume, this is a test confirmed by the next candle (higher closure on higher volume). Next candle would be also a nice long signal (that I missed)
3 - Here we find some selling, but next candle closes higher on high volume: buyers are in control, but there still are sellers
4 - Nice up candle that closes slightly off its highs on high volume, this is confirmation of strength, but it could contain some selling. A test inside the body of this candle (11.09-11.35) would be a good long signal
5 - Mark up continues. This candle is a wide spread candle on ultra high volume. It could hide some selling. A low volume test in this area (11.43-11.85) would provide a good entry signal
1 - Buyers entered here
2 - We have a low spread candle, closing in its middle with low volume, this is a test confirmed by the next candle (higher closure on higher volume). Next candle would be also a nice long signal (that I missed)
3 - Here we find some selling, but next candle closes higher on high volume: buyers are in control, but there still are sellers
4 - Nice up candle that closes slightly off its highs on high volume, this is confirmation of strength, but it could contain some selling. A test inside the body of this candle (11.09-11.35) would be a good long signal
5 - Mark up continues. This candle is a wide spread candle on ultra high volume. It could hide some selling. A low volume test in this area (11.43-11.85) would provide a good entry signal