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KNM formed a hammer + Doji Star on the bottom

Written By Unknown on Sunday, 14 October 2012 | 9:05:00 am

After a good run towards 0.73 ( New Higher High) it retraces down with a Hammer on Thursday and a Doji Star on Friday. Will this indicate a bullish reversal on the higher low?




Indicators
1 ) Trendline - Broke below the uptrend line and moving side way.
2)  Support/Resistance - formed Higher high (Bullish)
3) MACD - Bearish Crossover (Bearish).  Wait for 4R1G signal to bull again.
4) RSI -  Retracing and testing 50% ( Bearish).   If rebound from 50% will be bullish
5) STO - Formed Bearish Crossover and broke below 50%  - (Bearish)
6) Ichimoku -a) Above support cloud (Bullish).
                       b) Conversion line above the base line (Bullish).
                       c) Price above the baseline ( Bullish) - Waiting for it to rebound from the baseline to signal a stronger bullish reversal

Previous Buy Call on 19 September 2012
E ( Entry) : 0.705
S ( Stop Loss) : 0.66              
P ( Profit) :0.775
RRR (Risk to Reward Ratio) = 1.56 (Slightly Rewarding)

New Buy Call on 12 October 2012
E ( Entry) : 0.69
S ( Stop Loss) : 0.66              
P ( Profit) :0.715
RRR (Risk to Reward Ratio) = 0.83 (Slightly Risky)

E ( Entry) : 0.69
S ( Stop Loss) : 0.66              
P ( Profit) :0.745
RRR (Risk to Reward Ratio) = 1.83 (Slightly Rewarding)


Support at  0.66 / .625 / 0.56
Resistance at  0.685 / 0.695 / 0.725 / 0.76 / 0.795
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