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 : Candlestick Charting--The unknown indicator -- Ignore unavailable to you. Want to Upgrade?

To: MonsieurGonzo who wrote (923)	12/9/1997 8:35:00 PM
From: The Perfect Hedge	Read Replies (1) \| Respond to of 1589

Steve- Wow.Some post that I'm replying to.I admire and salute your diligence and hard work. EVI produced an ugly bearish harami today and it looks like CKR is moving down like you mentioned yesterday:it produced a grizzly black candle that has me sweating.Do I need confirmation to trust the harami on EVI?Also is your post saying your bearish on the overall market now?GD

To: MonsieurGonzo who wrote (923)	12/9/1997 11:25:00 PM
From: Esteban	Read Replies (1) \| Respond to of 1589

Steve, No, we're not using the same chart generator. I use PC Quote Realtick III for mine and I don't think they use the same opening time as yours. Mine starts at 9:00, which makes for good open close times throughout the day for the 90 min. But it probably varies from yours giving us different intraday candlesticks. According to your theory, they should both indicate the same pending reversal even if the patterns don't match exactly, correct? It's a good test of intraday candlestick validity, using different chart generators. One scenario is that the trend is changing. We expect any bounce up from here to be a kind of technical correction, (or "Bull Trap"), and that we should go short on any strength now, rather than go long on any weakness. I'm not proud. If I get caught in the trap, I'll reverse. At this point I don't think there is any way to tell whether the trend is broken or not. As a matter of fact, my system put me short yesterday afternoon, but I didn't want to go against the existing trend. I think we have to assume the trend is still in force until it is convincingly broken, and a downtrend is established, and be ready to go either direction from here. Esteban