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Strategies & Market Trends : Technical Analysis With Charts

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From: MACD X	4/8/2007 10:55:52 AM
	of 6865

ORPHAN CANDLESTICKS stockcharts.com Orphan candlesticks is a cousin to balance points and congestion centers. Us together as a group they become more powerful. Orphan candles are helpful in elliott wave identification in that it confirms the wave count being that there is almost always one in place at the completion of a wave. It should also be mentioned that gaps and volitility throw off the center placement of the orphan. It will still be near the center but probably complete out of the center. Balance points and congestion centers help with volitility is present. Orphan candlesticks are usually large and mostly white although a red candle can be the orphan. They are alone and stand out in that there is no other candles around them. Thus the name orphan was created. They have no other brothers and sisters or Mother or fathers that stand near them.

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