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Strategies & Market Trends : TA-Quotes Plus -- Ignore unavailable to you. Want to Upgrade?

To: Monty Lenard who wrote (5791)	8/2/1998 11:52:00 PM
From: Bob Jagow	Read Replies (3) \| Respond to of 11149

Monty, That 10-day test was very impressive; most gapped up on the 21st and closed strongly down, and but for XYBR have followed thru. Looks to be a popular pattern that a lot jump on -- might be hard to fill near the open unless you are a MM. I haven't read any Candle books; which would you recommend? Any favorite long reversal patterns? Bob

To: Monty Lenard who wrote (5791)	8/3/1998 1:11:00 PM
From: Clark Wang	Read Replies (1) \| Respond to of 11149

Monty, there is one concern using 'Upside Gap Two Crows'. This pattern may turn into a 'Mat Hold' which is a strong buy signal. In Jeff Copper's book, he has a trading idea similar to 'Mat Hold'. However, he probably didn't know Japanese have used this pattern for a long time. (more than hundred years before his book?) To avoid trapping in a bullish scenario, you might want to require the volume of second day must be larger than the first day. And the volume of the third day must be larger than the second day. I've used several bearish signals from Nison's book in my scan. My personal experience shows that a bearish pattern doesn't guarantee a trend reversal. However, most instances of trend reversal have a bearish candlestick pattern. Adding volume & other indicators can greatly reduce the risk. Regards, Clark