Av.

Helenqu

Established member
841 3



For those that don't use candlestick charts you missed a lovely bearish top yesterday, coupled with the divergence on CCI a great trading signal. Down over 3% today. (And yes I did trade it :))
 

Bill G

Member
92 2
Ascending triple top on PFscan Helen good for a long haul?
Its' nice when you have assessed correctly.
Bill
 

Helenqu

Established member
841 3
Hi Bill,

I don't do long hauls :) I was in first thing and out for +13.5 this afternoon. But I'll be watching it closely like I'm doing with EMG.
 

esiotrot

Active member
157 0
Hi Helen

Not being a Candlestick practitioner; what do you call that particular pattern? Doji?

The only reason is that Metastock can search for these, and a search based on this and the close being above the top Bollinger (for instance) would pick them out.

I use bars (non alcoholic of course) and look for this pattern on a semi-regular basis and for some reason or other never thought to use candlesticks for this!!
 

Helenqu

Established member
841 3
Hi Peter,

Well it's kinda sorta a an abandoned baby/evening star type thing. But with candles its a bit like music, one candle (note) can stand alone but three or several together make more than those notes on their own. The whole context says a lot.

If you want a quick reference guide to candles check out these links. I have them printed out and keep them on my clipboard.

http://www.litwick.com/indicators/bearish.html

http://www.litwick.com/indicators/bullish.html

HTH
 

Trader333

Moderator
8,590 922
Wouldn't an abandoned baby pattern require a gap left and right of the highest candle ? It is a while since I used candles but I thought this was a prerequisite of this pattern and is comparable to an Island reversal which does require the gap.


Paul
 

warm_machine

Member
70 0
THE W.I.T. system (Warm-machine Infallible Trading :) ) indicates a good reversal having been made with roll-over and accelerated decline predicted as next major moves. Some caution warranted if price fails to close under 415p during this current bout of weakness, as it could lead to a temporary setback to the 445p area. Towels to be thrown in above 455-57p.
 

Miki

Member
98 1
Sorry, but your W.I.T. system has been super-seeded with my “True W.I.T” system.

:)
 

Skimbleshanks

1
2,325 16
Are you sure that WIT doesn't stand for Women's Institute Traders? You know the ones, the old girls who can trade and make jam at the same time, while humming the tune of Jerusalem.

:cheesy:
 

Helenqu

Established member
841 3
Trader333 said:
Wouldn't an abandoned baby pattern require a gap left and right of the highest candle ? It is a while since I used candles but I thought this was a prerequisite of this pattern and is comparable to an Island reversal which does require the gap.
Hi Paul,

I think this is the problem men and non-musicians have with candles, they always want things to be clear/precise, they just aren't most of the time, it's about context of the type of candle rather than absolute patterns :) I used the word "ish" quite deliberately so no one would say "but it isn't because...." ;)
 

warm_machine

Member
70 0
Miki...I wouldn't be surprised as I have no interest in gardening :p

Skimble, I can trade AND make money at the same time...so how about WM's Institute of Traders :)

Helen :)) But your point about the lack of clear-cut examples/interpretation is quite right.
 

Trader333

Moderator
8,590 922
Hi Helen,

er if you had checked my profile you would see that I write and record music. Still I take your point.


Paul
 
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