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Hi satyen !
First of all i would reccomend u to increase the no of bars that u want to take under consideration. like atleast a few bars.
It is not necessary that the first 5 min candle is influencing the price movement everytime. for eg: if the opening candle has average or less volume and the size is also not noticeably bigger, then it is not wise to trade based on that because whenever the bigger participants will enter, they would most often trap the previous trend and the majority will also support them.
This chart of bomdyeing is a perfect example of such action. notice the weak trend after the open and then came the big bulls.(size and volume)
The next one is today's chart of ibreal. here the opening candle was the principal action. notice the following candles. i have marked imp things so not much explaination required. These kind of trades are usually safer ones for a simple reason, the bulls did'nt show up for once.
also posting this trade i entered in ibreal based on above mentioned, just to show, i also trade what i believe.
First of all i would reccomend u to increase the no of bars that u want to take under consideration. like atleast a few bars.
It is not necessary that the first 5 min candle is influencing the price movement everytime. for eg: if the opening candle has average or less volume and the size is also not noticeably bigger, then it is not wise to trade based on that because whenever the bigger participants will enter, they would most often trap the previous trend and the majority will also support them.
This chart of bomdyeing is a perfect example of such action. notice the weak trend after the open and then came the big bulls.(size and volume)
The next one is today's chart of ibreal. here the opening candle was the principal action. notice the following candles. i have marked imp things so not much explaination required. These kind of trades are usually safer ones for a simple reason, the bulls did'nt show up for once.
also posting this trade i entered in ibreal based on above mentioned, just to show, i also trade what i believe.
Copy-Pasting part of the message just received by me on e-mail :
Somali Pirates in Discussions to Acquire Citigroup
By Andreas Hippin
November 20 (Bloomberg) -- The Somali pirates, renegade Somalis known for hijacking ships for ransom in the Gulf of Aden, are negotiating a purchase of Citigroup.
The pirates would buy Citigroup with new debt and their existing cash stockpiles, earned most recently from hijacking numerous ships, including most recently a $200 million Saudi Arabian oil tanker. The Somali pirates are offering up to $0.10 per share for Citigroup, pirate spokesman Sugule Ali said earlier today. The negotiations have entered the final stage, Ali said.
"You may not like our price, but we are not in the business of paying for things. Be happy we are in the mood to
offer the shareholders anything," said Ali.
The pirates will finance part of the purchase by selling new Pirate Ransom Backed Securities. The PRBS's are backed by the cash flows from future ransom payments from hijackings in the Gulf of Aden. Moody's and S&P have already issued their top investment grade ratings for the PRBS's.
Head pirate, Ubu Kalid Shandu, said: "We need a bank so that we have a place to keep all of our ransom money. Thankfully, the dislocations in the capital markets has allowed us to purchase Citigroup
at an attractive valuation and to take advantage of TARP capital to grow the business even faster."
Shandu added, "We don't call ourselves pirates. We are coastguards and this will just allow us to guard our coasts better."
Somali Pirates in Discussions to Acquire Citigroup
By Andreas Hippin
November 20 (Bloomberg) -- The Somali pirates, renegade Somalis known for hijacking ships for ransom in the Gulf of Aden, are negotiating a purchase of Citigroup.
The pirates would buy Citigroup with new debt and their existing cash stockpiles, earned most recently from hijacking numerous ships, including most recently a $200 million Saudi Arabian oil tanker. The Somali pirates are offering up to $0.10 per share for Citigroup, pirate spokesman Sugule Ali said earlier today. The negotiations have entered the final stage, Ali said.
"You may not like our price, but we are not in the business of paying for things. Be happy we are in the mood to
offer the shareholders anything," said Ali.
The pirates will finance part of the purchase by selling new Pirate Ransom Backed Securities. The PRBS's are backed by the cash flows from future ransom payments from hijackings in the Gulf of Aden. Moody's and S&P have already issued their top investment grade ratings for the PRBS's.
Head pirate, Ubu Kalid Shandu, said: "We need a bank so that we have a place to keep all of our ransom money. Thankfully, the dislocations in the capital markets has allowed us to purchase Citigroup
at an attractive valuation and to take advantage of TARP capital to grow the business even faster."
Shandu added, "We don't call ourselves pirates. We are coastguards and this will just allow us to guard our coasts better."
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