Favorite and most powerful candlesticks

[walterw]

	Quote:	Tasuki
	The gap also needs to be a professional gap, not an amateur gap (professional gaps initiate moves, amateur gaps continue moves and are sometimes called "exhaustion" gaps).

Hi Tasuki, can you expand a little more on this gap concept ? how do you diferenciate professional from amteur ? thanks Walter.

[Tasuki]

Walter, the "pro gap" vs "amateur gap" are just terms from Pristine's methodology. They don't *know* who's causing the gap, but they assume so by the price action.

If you see a gap that breaks out of a trading range, Pristine says that this is most likely professional money that's causing the gap. The reasons they (Pristine) give are the same as you'd find in VSA--they pros are trying to run the stops of traders who thought the range would resolve in the other direction and simultaneously convince traders who are already in the trade and making money from liquidating.

If you see a gap that extends an already-existing trend, Pristine says that this is most likely the retail traders who are all jumping in late in the game, driven by greed--they don't want to miss the boat. These gaps are often the last gasp of the bulls before the trend reverses, and thus they are called "exhaustion gaps."

Hope I've made this relatively clear.

[walterw]

	Quote:	Tasuki
	Walter, the "pro gap" vs "amateur gap" are just terms from Pristine's methodology. They don't *know* who's causing the gap, but they assume so by the price action. If you see a gap that breaks out of a trading range, Pristine says that this is most likely professional money that's causing the gap. The reasons they (Pristine) give are the same as you'd find in VSA--they pros are trying to run the stops of traders who thought the range would resolve in the other direction and simultaneously convince traders who are already in the trade and making money from liquidating. If you see a gap that extends an already-existing trend, Pristine says that this is most likely the retail traders who are all jumping in late in the game, driven by greed--they don't want to miss the boat. These gaps are often the last gasp of the bulls before the trend reverses, and thus they are called "exhaustion gaps." Hope I've made this relatively clear.

Thanks Tasuki for that explanation... cheers Walter.

[NihabaAshi]

Although Japanese Candlesticks is only a secondary methodology to me...

My current favorites are Hammers, Haramis and Engulfing patterns.

However, if someone said I can only use one from the above, I would go with Hammer patterns.

Mark
(a.k.a. NihabaAshi) Japanese Candlestick term

[Nick1984]

What pattern does your handle represent Mark if you don't mind me asking?

[NihabaAshi]

	Quote:	Nick1984
	What pattern does your handle represent Mark if you don't mind me asking?

Hi Nick,

Nihaba Ashi is not a pattern.

Instead, its just a term or phrase with the meaning foot steps.

Also, the word Ashi in martial arts implies foot or leg.

Thus, if another word follows after Ashi, for example, such as Ashi-Barai...

It implies leg sweep.

Mark

[Nick1984]

Hehe thanks for that Mark,

forgive my ignorance lol but you never know unless you ask!