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Hi Greg,
Tuesday, December 16, 2003, 1:49:54 PM, you wrote:
G> I'm trying to learn about candle patterns and wondered if anyone
G> could tell me something about the last three white candles. Is
G> this bullish (possibly accumulation)? Or bearish? Most MA's
G> are flat or pointing down, so I'm thinking this might be a
G> bearish situation. But maybe it will reverse direction and
G> move up to at least the 144 MA. Anybody care to take a crack
G> at this?
I'm Japanese, yet I classify candlestick patterns, *especially* the
shorter ones, pretty close to astrology and sorcery, maybe just a bit
less reliable. ^_^
Take a look at your chart again . . .
Do the large white candles in early September mean anything? Sure,
they meant the bulls were in charge, right? (Just look at how
prolific those big white bars are there -- right at the top -- why
there are FIVE of them in just seven days.) Oops. That does appear
to be the top for the viewable chart, doesn't it. Now ask yourself
if you could not trust *those* groups of while candles on the upside,
why would you want to put any (ahem) stock in the three white candles
on the downside.
Give me a simple bar chart with volume any day.
I don't know what you have there that likes to make 33 percent moves
routinely. It's nice if you can catch one for sure. But you do NOT
bet on the turn with these; you wait for obvious evidence of it, then
you catch what you can, and forget/ignore what you missed. Otherwise
somebody gets assigned the nasty job of having to scrape you off the
pavement. ^_-
Take two aspirin and call me when it dips below 12 and shows evidence
of a turn. ^^_^^
Yuki
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