I will post itm, but we all know what will happen tomorrow the jobs data will be received as great no matter what it is, and we will rally all day and cancel out that nasty DOJI. A the US indexes have bearish setups, but they never work, and are not calling the tops very well.
Here is a negative divergence and a DOJI to boot, its like who cares buy buy buy. These set ups work much better if they occur in the direction of the major trend. Say after a selloff you get a DOJI and a positive divergence it would blast off. I just cant belive at these overbought levels know one cares.
way too easy to front run a squeeze in this environment... until that play becomes old and tired... who knows.
Doji-shmoji! It's 1999 all over again!! I'm loading up on Cisco, AOL, and Nokia again! Hope this Y2K thing turns out okay... :eek:
One could argue that a doji simply shows an equilibrium in balance between the bulls and bears and therefore does not imply a bearish or bullish tone. I understand what all the candle books out there teach, but a doji in and out itself is pretty neutral if you ask me.
it is nice to see that someone has taken the time to understand what the true meaning of the candles in question represent. the following information is available in the teachings of Sakata's Methods. Also if you only look at the last candle that is the equalivient of seeing only one candle and attempt to determine direction from it, which I hope you would not do. they are both "doji lines" but they are more than that the last candle in the thread starter's post of the ndx.jpg is called a "tonbo" and if one were to take it at it's meaning WITHOUT considering the candle action that preceeded it , the meaning is a turning point in the market. the last candle in the thread starter's post of the spx.jpg is called a "tohbo" and if one were to take it at it's meaning WITHOUT considering the candle action that preceeded it , the meaning is an end of the war and a stable market or a turning point in the market. to truly understand what significance these types of "doji lines" mean you must consider the action prior to them
well said.. and also, a doji is only a doji if we get some kind of confirmation. That confirmation will come in the form of a falling market tommorrow... But if not, then it's just another day...
What's overbought? Who's defining it? Overbought to what? The last 14 days? The last 5 years? There's no such thing as "overbought". Also the stuff you look at: a candlestick doji and some divergence on some indicator - it's just your belief that this has any meaning. Most people don't care about it, and I also don't. If everyone would use the indicator you use and the same settings and all people would believe that it has any meaning - then it might work out... Sure maybe the markets go down now, but for sure they won't do that just because you spot some candlestick-formation on your chart... Good Luck! Marco
How often exactly have we heard this since the 2003 rally The only guys it got ugly for was the bears