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Hi mrdavis9,
Thursday, June 26, 2003, 4:24:14 PM, you wrote:
m> I want to narrow my focus specifically to short bodied candles. I
m> have been looking at a lot charts in an attempt to identify
m> conditions which frequently occur just ahead of a quick price
m> runup.
Or collapse. ^_^ It works both ways, and you are sniffing around a
very profitable area of short-term trading. As price oscillates from
high to low and then back, so range oscillates from high to low and
then back. These two oscillations are never ending. Identify low
range areas, and you are probably identifying areas that catchable
moves originate from. Simply don't have any opinion on which way the
move will go, however. ^_^
I would suggest a volume component to your studies, as a wide-range
bar can suddenly appear from low volume as well as from high volume
(not enough players one day in a normally deep issue means volatility
with no staying power -- there is no real significance to most
low-volume WRBs). When you see reasonable volume suddenly expanding
range, go with the flow, grasshopper. ^^_^^
Good luck,
Yuki
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