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Strategies & Market Trends : Why the markets will continue higher... -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (417)	1/9/1998 9:20:00 AM
From: Art M	Read Replies (1) \| Respond to of 745

This reversal week is analgous to the Japanese candlestick bearish engulfing pattern which Steve Nison describes in his book 'Japanese Candlestick Charting Techniques'. He calls it a 'major reversal signal' in which the 'closest analogy in western charting techniques is the Western reversal week'. However, in the candlestick technique if the open/close, NOT the high/low, of the 2nd week engulfs the open/close of the first week it is considered to be very bearish. The reverse is true for bullish engulfing patterns. FYI - from the glossary of the S & C URL posted previously: Andrew's Technique - A technique whereby a technician will pick an extreme low or high to use as a pivot point and draw a line, called the median line, from this point that bisects a line drawn through the next corrective phase that occurs after the pivot point. Lines parallel to the median line are drawn through the high and low points of the corrective phase. The parallel lines define the resistance and support levels for the price channel.