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> Look, first the guy tbondtrader won't even explain his formation the doji
> sandwich,
Language like that does not inspire anyone to help anyone. I have always
signed my posts with my name. As innocent as it may seem, it does happen to
be my name and is not a pseudonym (which I do sometimes use when writing
books, etc).
So far as the code for the doji sandwich is concerned, I did not write it,
as you know. (I do not have a Power Editor, even if I could use it!)
Because it is such an obvious pattern, I do not know whether it is even
necessary to have it formally highlighted on a chart, but if it did
highlight a DS that one otherwise would have missed, it would certainly be
of value. As a day trader, it may have use on the longer term charts, but
on the one or five minute charts it might become a nuisance rather than a
help. As I said, I am playing with it...
The DS formation is quite simply a reversal or continuation pattern which I
have identified and christened with that title and seems to work surprising
well, in certain circumstances. I am not going to waste my or other
people's time with great reams on how to profit from its sighting in the
charts (and I can only speak for the T-Bonds, anyway), when it is either
perfectly obvious to the seasoned trader or requiring considerable study in
association with a whole host of factors, for the novice. The former has
already paid his dues and is merely interested or grateful to have a pattern
pointed out that he might have overlooked, while the latter will learn to
pay his dues if he is ever to become seasoned.
It seems fairly fashionable to be rude or brash on these internet lists, but
the delight of RT has always been in its moderation. Many contributors
have their own axes to grind, while others are very pleased when they simply
get some logs cut for them - even if it does mean judicious discarding of
the brushwood.
Anyway...
Yesterday, was one of those lovely Mondays when the bonds gives very early
notice of its intentions and then delivers 20 ticks in the calmest of seas.
Today, of course, is FOMC DAY, so I shall be out of the market doing other
things until the announcement has been made. Then we will see - over
time! - whether the continuation Doji Sandwich delivers or not. The value
in the day chart is really for the position player, but I'll probably punt
a put like last time...
Bill Eykyn
www.t-bondtrader.com
"Learn to read the tape"
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