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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: Wayners who wrote (37289)	9/3/2012 4:06:08 PM
From: Challo Jeregy	Read Replies (2) \| Respond to of 221988

While I am not disputing your bullish prediction, if this is what you are looking at, I respectfully disagree with your candle interpretation - Friday's candle (circled in red) is more along the lines of an inverted hammer, kind of , maybe -g-. The candle circled in blue is a spinning top or a short white candlestick. Definition: The White Spinning Top is a single candlestick pattern. Its shape is a small white body with upper and lower shadows that have a greater length than the body's length. Recognition Criteria: 1. The real body of the pattern is white and small. 2. The upper and lower shadows are longer than the real body's length. Explanation:The market moves higher and then sharply lower, or vice versa. It then closes above the opening price creating a white body. This represents complete indecision between the bulls and the bears. The actual length of the shadows is not important. The small body relative to the shadows is what makes the spinning top. Important Factors: If a White Spinning Top is observed after a long rally or a long white candlestick, this implies weakness among the bulls and it is a warning about a potential change or interruption in trend. If a White Spinning Top is observed after a long decline or a long black candlestick, this implies weakness among the bears and it is a warning about a potential change or interruption in trend. Like most other single candlestick patterns, the White Spinning Top has low reliability. . . candlesticker.com