Candlestick Charting--The unknown indicator Message Board

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Strategies & Market Trends : Candlestick Charting--The unknown indicator

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To: MonsieurGonzo who wrote (622)	11/18/1997 6:49:00 PM
From: Esteban	Read Replies (1) of 1589

Steve, Regarding intraday candlesticks and index trading. How has the pattern reliability been working out? Morris says that intraday candles are not reliable because there is no definite open or close. A very large part of candlestick makeup stems directly from the open and close levels, and these are not definite occurences on intraday charting, just arbitrary time frames. Without a cessation of trading to define the candlestick body, I would think that the mass trading psychology that the candle body represents is missing from intraday candles. What are your thoughts on this? Esteban

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