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Strategies & Market Trends : Candlestick Charting--The unknown indicator -- Ignore unavailable to you. Want to Upgrade?

To: MonsieurGonzo who wrote (653)11/19/1997 9:00:00 AM
From: Tom Shutters  Read Replies (1) | Respond to of 1589
 
Steve, I think that you are correct, but this is true in all charting and not just candles. The great thing about candles is that they help you with the short term decisions.

For example take a look at AEM - yesterdays reversal after a long down trend was predictable by Monday's chart. Now the question is - how long will this reversal last and is it pre-news action?

Good trading,

Tom



To: MonsieurGonzo who wrote (653)11/19/1997 9:43:00 AM
From: Esteban  Respond to of 1589
 
Steve, >>Absolutely weird how a top or bottom reversal candlestick, followed by a down or up move - has some "news" event associated with the movement the next day.<<

With news driving stock price so dramatically lately, it's hard to wait for confirmation as is suggested for most candle patterns.

Esteban


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