intraday candle to determine next day price?

Discussion in 'Technical Analysis' started by laeott, Jul 18, 2007.

  1. laeott


    I want to confirm this. I heard that sometimes people enter a trade on a swing trade when the candle is a white bar on the daily chart. The next day it goes down. The reason for this is because the intra day candle was down or not white. So I'm trying to figure out how to use intra day candles at the end of the day. Obviously, there is no guarantee of where the price is going, but if the end of the day intra day candle is positive, the things look more positive for the stock the next day. Is this correct or am I on the right track?
    Thanks for the help.