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Gold/Mining/Energy : Gold & Gold Stock Analysis
GLD 362.31-1.8%4:00 PM EST
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To: GROUND ZERO™ who wrote (29515)6/1/2015 9:32:55 AM
From: Ron Struthers  Read Replies (1) of 29622
 
GZ, it is certainly interesting times, one aspect of technical charting I learned and like is candle sticks. Many of the reversal patterns have strong track records. Have a look on line, there is a lot of info out there on candle sticks. I watch for hammers, spinning tops, dojis and especially the star patterns.

For example the HUI just formed a morning doji star reversal pattern. This is a strong signal of a market bottom and reversal

On May 26 we seen the long dark candle, a down day

May 27th was a doji at a lower level then May 26. It represents a day where the market went up and down but closed at the same level it started, a day of indecision, neither bulls or bears in control

May 28th was the long white candle to the upside, this completes a morning doji star reversal pattern. I find these are correct like 80% to 90% of the time, although a gap up on the open on the 28th would have made a stronger reversal pattern

Time will tell
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