Candlestick patterns - NOT effective intraday?

Discussion in 'Technical Analysis' started by hapaboy, Oct 11, 2003.

  1. Hi M618,

    FutureSource, TradeStation and CME although they have cleaner data...they may have other problems.

    I guess it depends on what your willing to tolerate because I don't think there's one data vendor out their thats perfect for every trader.

    I use both FutureSource and QCharts (backup)...I'm also a former TradeStation user.

    I've never tested CME data although I know traders that use it.

    NihabaAshi
     
    #21     Oct 14, 2003
  2. m618

    m618

    Thanks Niha.
     
    #22     Oct 14, 2003
  3. One of the things you will hear Steve Nison say himself -- I just attended one of his seminars -- is that candlestick chart patterns are not necessarily signals, in and of themselves. Rather, they often indicate trend terminations, as opposed to outright reversals. Moreover, some of the candle patterns indicate support and resistance levels. Nison emphasizes also that the context in which one finds a candle pattern in just as or more important as the candle pattern itself. Seeing a doji after an uptrend can signal the end of the trend or signify a reversal. . . . . in a box range, by contrast, it means bupkus. . . . .

    I have only started to look at candle charts, so I can't help too much. If there is anything that starts to stand out on shorter term charts, I will definitely shine some light on the subject.
     
    #23     Oct 15, 2003
  4. u attended the seminar u paid mad cheese and u still cant trade em, blaaaa
     
    #24     Oct 16, 2003
  5. GOOD SYSTEMS DIME A DOZEN....GOOD TRADERS RARELY FOUND

    MKT. GOING DOWN...SELL.......MKT. GOING UP...BUY.....AN EXAMPLE OF A GOOD SYSTEM...

    LONG TIGHT SIDEWAYS RANGE....ENTER BREAKOUT DIRECTION..ANOTHER GOOD SYSTEM...

    I KNOW OF ABOUT AT LEAST 20 MORE THAT WORK...INTRADAY...

    IT'S THE TRADER MORE THAN THE MAGIC SYSTEM.. GOOD SYSTEMS
    WORK, THE OPERATOR MAKES OR BREAKS...
     
    #25     Oct 19, 2003
  6. dbphoenix

    dbphoenix

    I take it you type in caps 'cause you don't know how to use the shift key? Does the clock on your VCR blink?
     
    #26     Oct 19, 2003