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


To: Jorj X Mckie who wrote (43477)2/22/2003 1:44:18 PM
From: Jerry Olson  Read Replies (2) | Respond to of 52237
 
of course they do fail in a downtrend often..

however i have a target here of 872...and then we'll see if that candle was valid..

i liked to whole action on Friday..and predicted it would happen on that slam..been there done that before..

also 870 is a solid big time b/o on P&F here Jorji...



To: Jorj X Mckie who wrote (43477)2/22/2003 2:36:53 PM
From: Gamma Positive  Read Replies (1) | Respond to of 52237
 
Not to get nit picky, but your first two examples are not true bullish engulfings since the white candles high and low are not higher-highs and lower-lows than the previous red candle. Of course that's not to say that yesterday's bullish engulfing will end up being truly bullish.



To: Jorj X Mckie who wrote (43477)2/22/2003 4:28:26 PM
From: Casaubon  Read Replies (1) | Respond to of 52237
 
I think this is a better look at the big picture.

stockcharts.com[h,a]waclyyay[de][pb50!d20,2][vc60][iUg!Lh14,3]&pref=G
stockcharts.com[h,a]waclyyay[de][pb50!d20,2][vc60][iUg!Lh14,3]&pref=G
stockcharts.com[h,a]waclyyay[de][pb50!d20,2][vc60][iUg!Lh14,3]&pref=G
stockcharts.com[h,a]waclyyay[de][pb50!d20,2][vc60][iUg!Lh14,3]&pref=G
stockcharts.com[h,a]waclyyay[de][pb50!d20,2][vc60][iUb14!Lh14,3]&pref=G
stockcharts.com[h,a]waclyyay[de][pb50!d20,2][vc60][iUb14!Lh14,3]&pref=G

Anyway, I hope I'm right. Best of luck to all us betters!



To: Jorj X Mckie who wrote (43477)2/22/2003 7:25:09 PM
From: augieboo  Read Replies (1) | Respond to of 52237
 
Jorj, that's a good observation re the bullish engulfing candles. The thing is, under candlestick analysis an engulfing pattern is a trend change indicator -- it needs a trend to change in order to be meaningful. Thus, a bullish engulfing pattern in an up trend, (or a bearish engulfing in a downtrend), is meaningless. (This is according to Nison @ p.43.)