Curious near-miss on FTSE 1-hourly candle!
Posted: September 19th, 2018, 4:53 pm
IG this morning in their TA wrote that the market would possibly look more bullish with a closed-hourly candle above 7325 ie 1hour sustained period above that level.
The index rose above there at c2.30pm, stayed above for 54 minutes then retraced back through it. It stayed below until just after 3.30pm, so making a one hour candle above impossible today
The brief dip of just 3-4 minutes perfectly killed both 1hr periods, between 2.30 to the close.
It that just bad luck, random coincidence, or might some sellers have 'conspired' to kill the candle and the positivity it should have brought? Ie. is candle-killing an actual strategy?
The index rose above there at c2.30pm, stayed above for 54 minutes then retraced back through it. It stayed below until just after 3.30pm, so making a one hour candle above impossible today
The brief dip of just 3-4 minutes perfectly killed both 1hr periods, between 2.30 to the close.It that just bad luck, random coincidence, or might some sellers have 'conspired' to kill the candle and the positivity it should have brought? Ie. is candle-killing an actual strategy?