tradersams blog

bhp next day

Continuing the BHP paper trade.

The previous day was a doji, and the next day (friday) shows a bullish day, however the candle itself shows a day of no real market comittment again – not quite a true doji.

Looking back a couple of days the pattern is similar to a morning star, a common bottoming formation.  It isn’t technically a morning star due to the large price range on the day.  The price movement does appear to look like a short term bottom however.

Keep open, watch tomorrow.