To anyone who may can help: Just started on candlesticks....looked at Litwick.com....based on the 3/4 websites I've seen, it looks like "litwick" has a fairly comprehensive list on possible bullish/bearish pattern...
A couple questions:
(1) If a pattern is considered bullish, ie Doji Star...how long is that a "bullish sign"...ie, for a short-term trend, or the next day's trading, or until the pattern is negated (by another promenant pattern)...for example, we had a Doji Star (bullish pattern-Thursday) accurately call the next day's trading (up day)...with Friday's action, a morning Doji star (another bullish pattern) now in place....so, according to candlesticks, am I to assume that (a) Monday's action will be up or (b) the next few day's action will be, net/net, up or (c) something else?
(2) Are there more than the 32 bullish patterns and 32 bearish patterns shown at litwick.com? How accurate are those shown?
(3) Anyone who has used candlesticks, and to what extent....any comments appreciated....obviously, candlesticks do not show all the zig-zags of an intra-day move (necessarily)..what are the consequences of that lack of informations?
Finally (!), (4) Can you use candlesticks on individual stocks...
There is likely a "candlesticks" thread (I haven't yet looked), but I've grown comfortable here, and respect some of the knowledgeable regulars...any help you can provide appreciated...
BTW- Futures are up lock limit (or close)...aren't we, though, just gaining back what was lost after 4:00 PM on Friday..ie, net/net..we are back at Friday's close? |
