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Would you mind explaining your statement here jake? I'm curious as to what analysis you have done that shows a dragonfly/gravestone is stronger than a hammer. I personally don't see how either of those technical types of doji's are stronger than a hammer/shooting star. I would actually take the side of the discussion that hammers/shooting stars are stronger, partly due to that I see hammers/shooting stars much more often in my trading (daytrading of the ES) and I have found entries to be easier to gauge on hammers/shooting stars as well. That's not to say that your statement is incorrect or anything, but I'd like to know why you feel those doji's are stronger than hammers/shooting stars. |
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brown, obviously we need to define terms first of all
a/ frequency of occurance of a pattern or signal if you like will not count for its strength (it will definitely count for its usefulness since the more trials with an edge, the better); there are much more hammers than grave/dragon for obvious reasons
b/ strength of signal will mean its reliability
because reliability is purely subjective i.e. dependent on a trader (his stop loss versus his exit placement) and not an objective feature of an entry signal - you will understand that my experience will bring different results than yours, because our setups are different
cheers