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If you look at the candlesticks and compare them to standard technical
formations you will find that they replicate one another. It is just easier to
see and recognize with the candlesticks. I use them on all my charts, but
refer to them seldom for direction. They do give some excellent signals at
times. Like anything else, they won't stand alone. Ira.
Steve Karnish wrote:
> Patrick,
>
> I haven't looked at "bars" in years...just candles (or candle volume). I
> like Beyond Candlesticks by Steve Nison. If you think that more formations
> are better than a few...be careful. Certain topping and bottoming
> formations are very reliable and helpful when combined with other sound
> technical analysis. To think that formation #133, #237 or #2,199 will hold
> some secret to the unlocking direction in the market is pure folly. Stick
> with the less than 50 and learn to recognize them and then apply that to
> your trading.
>
> Steve Karnish
> CCT
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