Discussion in 'Technical Analysis' started by aphexcoil, Sep 4, 2002.

  1. bone, 3 black crows on the 1 min chart when you're long means the market has moved against you for 3 minutes.

    Now if you're short and antsy to take a profit, you start singing, to a Bob Marley Reggea beat

    Woke up this morning
    (I forget the second line)
    3 little crows
    Outside my window
    (I forget the 6th line)
    (I forget the 7th line)
    Everythings gonna be All ri ri right
    #51     Sep 8, 2002
  2. Don't worry
    Bout a thing
    Cause every little thing's
    Gonna be all right
    #52     Sep 8, 2002
  3. Then you combine candles with Bollinger bands and on the short chart you get a hungry shark.

    That is where the bands form a sleek narrow body that looks like a shark and the candles become little fish for the shark to attack.
    #53     Sep 8, 2002
  4. Woke up this morning
    Didn't know what to do
    Went long e mini
    And what did it do?
    3 black crows
    outside my window
    singing This message is for you you you

    Go short
    On a swing
    And every little swings
    gonna go your way
    #54     Sep 8, 2002
  5. cpo

    cpo Guest

    I use candlestick bars for just two reasons: 1 - I can better visualize the battle between bulls and bears; and 2 - I can see clearly the relationship between open and close on the charts. With regard to the patterns and technical analysis I prefer the western tradition and I don't even know a single candlestick pattern.

    Therefore I like to use candlestick bars along with our traditional western technical analysis. The mix is superb for me.

    #55     Sep 8, 2002
  6. I like candlesticks, but i would only consider them an indicator on the daily time frame, and even then they can't be used all by themselves.
    #56     Sep 8, 2002
  7. dotslashfuture, I agree with you that candlesticks need to be used with other indicators. My setup is: (1) to trade in the direction with the overall trend of the market, (2) to look very closely at the volume that correlates with the candlesticks and (3) to confirm my entry or exit with the relative positioning of fast stochastics.

    This is pretty elementary stuff , but it works for me. The one thing, however, that I disagree with you about is that candlesticks are only reliable on the daily time frame. On the contrary, I rely very heavily intraday on candlesticks to spot reversals and breakouts, and I find them to be the most accurate indicator in conjunction with volume. I can't remember where I read it but the writer said that candlesticks light the way and for me nothing could be more truer. Without the advantage of candlesticks, I feel like I'm trading in the dark.
    #57     Sep 8, 2002
  8. CalTrader

    CalTrader Guest

    Candlesticks are a nice way to visualize a couple of dimensions of data simultaneously. For my use candlesticks are just one charting technique: Genreally I look at candlesticks on end of day data and I find them less useful for intraday data.
    #58     Sep 9, 2002
  9. I don't use candlesticks....i use......ProSticks! ( i don't

    still, the concept looks kinda amusing...
    i'm not trying to push the site or friend's girlfriend's father invented them, that's how i found out about them...mostly a gimmick if you ask me..
    still, someone might find some use...
    #59     Sep 10, 2002
  10. Are there any types of candles that get more green with more volume and less green with less volume (and same for the red)?
    #60     Sep 10, 2002