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Old 12-17-2007, 09:32 PM
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Re: Intraday Candlestick Trading

I know my posts here will be unwelcome but here is a great example of a dark hammer pattern.

I think many people think lower timeframes are not good for candle patterns, but the problem is not timeframe it's the patterns themselves. The pattern that can be found on typical internet candle sites are simply not that reliable, regardless of timeframe. One needs to understand the underlying PRICE ACTION that creates the pattern.

While this is not a VSA thread, I would point out the Demand entering the market as the hammer pattern is being formed. Those who follow the VSA thread might notice the valid short at the No Demand on the top of the chart. This short was validate by weakness on the 15 min timeframe as well (this is a 5 min chart).


Last edited by Anonymous; 02-07-2008 at 07:40 AM.
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