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 (690)	11/22/1997 3:59:00 PM
From: Esteban	Read Replies (1) of 1589

Steve, 300 minutes is an interesting time to choose, more than 1/2 of a trading day. Why that particular time frame? How about looking at 1/2 day candles. My thinking is that the lunch break might signal at least a volume pause that would give a more definite close/open type event and maybe further validate the candlestick. After a day or so of watching intraday index candles I've found the most promise in the one hour time frame. I've only watched 12 and 60 minute so far though. I like to combine one hour candles with a 5 minute bar chart and of course the daily candlestick chart. The 60 minute can develop a pattern while the 5 minute reveals more detail about intraday support and resistance, and intraday trends. Got to keep it reasonably simple though. Otherwise you'll either always find what you want or never be able to make a decision due to conflicting data in the various time frames. Indices should be a perfect fit for Candlesticks. Mass psychology in pictures. Esteban

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