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james_gsx

Doji or Evening star?

By james_gsx, in The Candlestick Corner

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smbtnt    10

smbtnt
Posted

Maybe this is the right place to ask about this candlestick.

Not sure if it has any significance but it sure looks like a temporary halt on proceedings.

Any ideas.

YM chart attached

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trader273    10

trader273
Posted

It always important to use candles in context. The day finished about a spinning top, that in itself is not that important. Now taking a quick look at the daily chart ( I use the INDU) you can see that price is at resistance so that might give me some more credence to this spinning top. Of course, depending on how/when to enter, where to put stops, and where to take profits is the real trick. Candles are just part of a trading plan.

 

os4shw.png

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SunTrader    10

SunTrader
Posted

Another look at the same, well similar, thing is the $SPX but my preference is to find areas of congestion rather than spike bottoms/tops. Most times this represent more traders trapped and a greater likelyhood a reaction. RSI(2) is signaling a sell which I would take on a close below todays low but expect only a retracement of the move off the swing low of 7/15/08. My wave count might be wrong, very possible ;), but if not I expect higher prices (1350 area?) after the retracement.

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trader273    10

trader273
Posted

I dont have the slightest idea about wave counts or any of that stuff. Anyways, looks like that resistance level + candle pattern was pretty powerful today. Now where/if/when to take profits is a whole other topic.

 

2pyrw5i.png

 

Candles can be a very simplistic, yet powerful system for daily charts. Intraday, well that's a lot different.

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ammo    10

ammo
Posted

i go to this page a lot,http://www.stockcharts.com/def/servelet/sc.com and i look for the highest numbers,could u please tell me what filled black candles and hollow red candles are,?thanks

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Guest forsearch   

Guest forsearch
Posted

 

 

I give you, the holy grail indicator.

attachment.php?attachmentid=7103&stc=1&d=1213588588

 

This is my holy grail. Play it at the beginning of every trading day.

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ammo    10

ammo
Posted
i go to this page a lot,http://www.stockcharts.com/def/servelet/sc.com and i look for the highest numbers,could u please tell me what filled black candles and hollow red candles are,?thanks

sorry ,mistake on this link,last part is sc.scan not sc.com, sun trader can yo run that by me again,thanks

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