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Strategies & Market Trends : Chart Formations -- Ignore unavailable to you. Want to Upgrade?

To: Greg McDaniel who wrote (71)	6/15/1998 12:24:00 PM
From: sean sanders	Respond to of 967

Greg, I would say a trend reversal looks likely, BUT seeing how we have been in a long downtrend and that we are below the 50 and 200 day ema I wouldn't throw all my 'cookies into one basket'. Out of all the candle formations I would say I like the hammer the best. You've a trend reversal sign in one day and perhaps a support sign underneath the body in one day. Although as you probably already know candles don't always do what they are 'supposed' to do. I tend to look at candle formations like what will probably happen, and when it comes to money I don't like throwing it at probablies that easily. btw my indicators short, medium, and long term suggest that a reversal is approaching ... also there is a fib retracement level just beneath friday's hammer. Sean Sanders