Rally To Candlestick Formation

Pipsaholic · Dec 30, 2011

Hi,

Can anyone experienced in candlestick formations tell me if this hammer is stronger as previous coloured candles are all bearish leading upto the hammer as a major structure point?

My point is if some of the candles leading upto the hammer are green does that make the hammer at a major structure point weaker? How about the size of candles leading upto the hammer?

Thanks.

Shakone · Dec 30, 2011

Pipsaholic said:
Hi,

Can anyone experienced in candlestick formations tell me if this hammer is stronger as previous coloured candles are all bearish leading upto the hammer as a major structure point?

My point is if some of the candles leading upto the hammer are green does that make the hammer at a major structure point weaker? How about the size of candles leading upto the hammer?

Thanks.

What do you think?

wackypete2 · Dec 30, 2011

Shakone said:
What do you think?

He doesn't.

Peter

tomorton · Dec 31, 2011

None of this is really significant, i.e. important enough to confirm or cancel the trade or identify position size etc.

If you trade off swing lows, especially if suggested by patterns such as hammers, it's worth trading but you would surely look for other confirmations rather than the candlestick colours.

Rally To Candlestick Formation

Pipsaholic

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