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Old 11-02-2007, 10:40 AM
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Re: DJIA Candles

Nick that's what I mean by getting a certain signal to go either direction. If I was bullish going into a specific day that wouldn't stop me from making short or long plays on a day-trade basis. I would also look for a candle on say the 15 minute chart that would tell me what direction the market might be heading. For example if I saw a bearish engulfing pattern on the daily, then a strong hammer or other bullish candle on the 15 I obviously wouldn't fight that.

You are also right about the NQ, I wouldn't go long on that chart on a swing basis but if I got something to tell me to go long during the day I would and I would possibly hold it for a swing play. I would be more reluctant too though, because like I said the YM and ES don't look strong at all. It would pretty difficult for the YM to fall 150pts, the ES fall 13 pts, and the Nasdaq somehow go up.


Last edited by james_gsx; 11-02-2007 at 10:45 AM.
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