Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Trader X who wrote (278)	2/16/2001 7:11:24 AM
From: donald sew	Read Replies (3) \| Respond to of 52237

Trader, I dont necessarily go by the text-book when it comes to candles. Most of the 3-BLACK CROWs which occured during the selloff last year did not occur at the very top of the rally, and it was common for the the last day of the 3-CROWs to also be near/at a short-term bottom and that a small rally follows before the selling resumes. I believe there was about 5 of them. It was even becoming a joke after awhile, since they were so reliable where if I recall correctly all of them worked. My view of the 3-BLACK CROWs, especially the IDENTICAL 3-BLACK CROWs, is that it is the most powerful and reliable of the the candlestic patterns, and is unique in that it has the longest influence where most of the other candlestic patterns are much shorter-term. Ive seen abandoned babys, which are very reliable, fail within the last year but I dont recall one 3-BLACK CROW failing last year. Frankly I consider 3-BLACK CROWs more of a continuation pattern than a reversal pattern. The 3rd day of the 3-BLACK CROWs ended 5 days ago. The basic rule I follow is that the 3-CROWs is not negated until the index rebounds above the 1st day of the 3-CROWs. Also the small rally commonly rebounds half-way up into the 3-crows before the selling resumes. I dont believe that is in a text-book, since I did have some tutoring from an old-timer who used candlestics for trading rice and spices in China, my grand uncle. seeya