Review of XAO (XAO) All Ords
as of 20/01/2010
A white body occurred (because prices closed higher than they opened).
An inverted hammer occurred. If this occurs during a downtrend it implies a reversal.
Look for a confirmation of the reversal on the bar.
A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).
An on-neck line occurred. This is a bearish pattern where prices should move lower when the white
candlestick's (i.e., the most recent) low is penetrated.
A shooting star occurred (a shooting star has a small real body near the bottom of the candle and a long upper shadow).
During an uptrend(which appears to be the case with XAO) the long upper shadow indicates that the bears are gaining control and a top may occur.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close).
During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
Review of XAO (XAO)
as of 22/01/2010
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are "high," it may be the first sign of a top.
If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance.
Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend.
Review of XAO (XAO)
as of 27/01/2010
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are "high," it may be the first sign of a top.
If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance.
Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
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Review of XAO (XAO)
as of 29/01/2010
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are "high," it may be the
first sign of a top.
If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance.
Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
Review of BHP (BHP)
as of 29/01/2010
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are "high," it may be the first sign of a top.
If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance.
Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 5 white candles and 5 black candles.
A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow).
This usually implies a continuation of a bearish trend.
There have been 8 falling windows in the last 50 candles--this makes the current falling window even more bearish.
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