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Strategies & Market Trends : Candlestick Charting--The unknown indicator
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To: Esteban who wrote (672)11/21/1997 5:06:00 PM
From: MonsieurGonzo  Read Replies (1) of 1589
 
Esteban; RE:" Reading the Tea Leaves..."

The biggest challenge for me is to learn how to pick the spots
where candlestick patterns are most likely to signal something
important and avoid being constantly whipsawed. Another is to realize
that the trend has deteriorated WITHOUT an actual candle pattern
forming, and recognize the deteriorating psychology in it's absence.

Man, I'm taking notes, you know? (^_^) Well said.

...take a look at Ms.Softie (MSFT) Big ol' Doji up there today. Weekly chart, though - says she's busted a DownTrend, so maybe a correction (daily) and then chugs through all that noise at the top of her trading range ? I dunno - (holding LMFAH JAN2000 MSFT 140 LEAPS, +2 from bottom of trading range @ ~130).

-Steve
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