Let's go back to early 2011. Maybank recorded a RSI less than 30, after 4 long-short-long-short black candles. 5.2% down. 20MA seemed to be in downtrending. High risk but the technical rebound play seemed to work well, accumulating 4.7% profit in a week
A drop of 14.4%, resulting in 3 long black candles. Any takers? If I did buy on the third candles, more than 10% profit was achievable in a month's time.
Still a high risk technical rebound play, 3 long black candles followed by a hammer and a gap down! A profit was still within horizon for the trade.
Towards third quarter of 2012 saw two opportunity for technical rebound play.
Early 2013, a nice four black candles with the 4th one a hammer but a small profit. Still a profit; not a loss.
One long black candlestick. Followed by a doji.. and another doji. Nope. Not a technical rebound play. Not yet. Give me more black candlesticks for a technical rebound play, please.
20MA line is going down side. Uncertainty is looming.
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