week17 STI Straits time Index breaks 6 year high , ready for bullflag up

W1

What gets me excited is when a major consolidation has ended, followed by a strong closure beyond multi 52 weeks level or previous year high. This suggests spaces to exploit.

Current situation is best exemplified by the chart of Straits Times Index.

week16 w1 STI 6 years high broken 230415

D1

After the strong bullish week close , it will be to look for signs of support.

With the combination of d2d momentum with w2w uptrend , looking for a multi day bullflag will be right thing to do to join in the big tide.

week16 STI h4 bull flag h4t 1234 230415

D1 candlestick charts

Finding the beartrap in the form of hammer will be the ideal scenario. In this case, I have gotten the trigger that I want to see. Overall the trend is up. I will be ready to add more should price drop furthur down.

week17 STI D1  power hammer 250415

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