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Strategies & Market Trends : Candlestick Charting--The unknown indicator
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To: MileHigh who wrote (1447)12/9/1998 12:13:00 PM
From: Iceberg  Read Replies (1) of 1589
 
>I would love to pick some charts and discuss some developing patterns.

MileHigh,

What is your favorite candle pattern?

The so-called "doji" is an interesting candle to me. My understanding is that it's a classic reversal candle.

If you look at Pep Boys' [ticker PBY] daily chart, as an example, you'll see a doji at the bottom in the first week of October. There is a series of "dojis", "dojii" or "dojes"? [I obviously don't know what the plural of doji is] in the first week or so of December. If the doji indicated a bottom reversal in early October, wouldn't the current doji pattern be indicating a similar bottom reversal now?

As another way of looking at it - - if ONE doji candle indicated a bottom reversal [early October], do TWO or THREE in a row [early December] indicate an even stronger reversal signal?

Ice
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