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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area

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To: Daveyk who wrote (2816)	7/17/1998 11:44:00 PM
From: Crossy	Read Replies (2) of 37387

Dave, Doji star is a major candlestick signal but I would rank the Tom de Mark BUY13 pattern even more. This confluence (strong bottom candle pattern + buy13) is a classic situation for me that had guided me to some succesful trades in the past (T, CCI, PAIR, etc)... ANTC is still in bullish uptrend. Candlestick is a confluence sign of an upward move. What supports a bearish attitude is that last upmove wasn't accompanied by increasing volume. This candle pattern could also be interpreted as a hangman plus shooting star but for me this is an unlikely interpretation Looks like a sideways trend for now.. Trading channel is good. Problem is only that the channel itself is rather big. You are just in for the EXTRA mile of an upmove with this approach. The spanning range of the trading channel You would never trade on when You waited for a breakout. This drawback let me look into other TA approaches - that's why I turned to candlestick charts. They offer insight plus You could use standard indicators as confluence (OBV, MF, Volatility, TrueRange I like best, also Volume) Books on candlesticks: best standard literature is: Steve Nison : Japanese Candlestick charting techniques. Very clear thing Tom de Mark also has a smart book (his first) but I lent it to a friend and can't remember the title. However he describes his sequential (tm) study thoroughly, which gives Buy13 and Sell13 indicators.. good weekend for You too.. CROSSY

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