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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Michael Watkins who wrote (11409)	2/6/2001 10:17:40 PM
From: Monty Lenard	Read Replies (1) \| Respond to of 12039

Michael, I agree with you that the candles do not have to be TEXTBOOK to trade. A good trader can make money on the "not so perfect" candles you describe. In this market if one waits on confirmation they are looking at a sell signal the next day or day after but there is money in between. Of all the ones I looked at last night I did not see any that one could not have made money on or at least not lost any IF THEY PAID ATTENION. Many of them were shortable when they reversed today (the day of confirmation). Monty

To: Michael Watkins who wrote (11409)	2/6/2001 11:31:06 PM
From: toto1013	Read Replies (1) \| Respond to of 12039

Michael, waiting to hear more on the Full Moon Candle. Thanks in advance.

To: Michael Watkins who wrote (11409)	2/6/2001 11:51:03 PM
From: Trader X	Respond to of 12039

that's right, baby! I want a solid, never say die, till death do us part signal. You know of any? I like the Unique Three River Bottom. A three bar pattern that reduces into a Hammer-- very rare bird and very reliable! the first day is a long black bar. the second day is a Harami day, with black body and a lower shadow that sets new low -- looks like a Hammer the third day is a short white bar which is below the second bar. the fourth day confirms if it rises to a new high. volume should support the reversal. It's solid!

To: Michael Watkins who wrote (11409)	2/7/2001 6:08:53 PM
From: Trader X	Read Replies (1) \| Respond to of 12039

Micheal, more hammer-like? the intraday for QQQ appears to be very "hammer-like". Gap down on the open, nice lower shadow, small body, insignificant upper shadow. On the other hand, the lower shadow is almost too short,making this look more like a morning star, which I consider to be a variant of the hammer quote.yahoo.com but investor confidence is too high. Article here spells it out: thestreet.com