Candlestick Patterns – Evening Star
Similar Posts
How Could I Have Analysed This Better?
Here's an example of someone who's coming along quite nicely with their development as a trader. The following two images are from a YTC Price Action Trader reader who sent an email, asking the following: I'm not sure if this method of thinking can be used to go against my premise in the future? What…
Establishing a Bias From the Open (Part 2 of 2)
Establishing a bias intra-session is a simple process of following our 6 principles for future trend direction. It's a little more difficult at the session open though, when the lack of prior data adds to the uncertainty. Last week we worked through an example in which we established a bias from the open. Essentially it's…
My Favorite Indicator
Here’s a recent question I received… “If you had to use one indicator, and one only, which would it be?” Simple… no thought required… Keltner Channels. Parameters set to (10,1.5) as my default, varying to (10,2) or (10,2.5) if necessary to ensure a nice snug fit around the price. You’ll find some basic info here: http://en.wikipedia.org/wiki/Keltner_channel,…
What Was That? (EUR/JPY, Jan 28th, 2011)
The following was a reader email, regarding some specific price action on Jan 29th, 2011, in the EUR/JPY: Question: I have question for you. I have attached a 5 min chart on Friday as a JPEG file. Note the candlestick in the circle which is very long and sudden up and down. Also the shadow…
Better than Candlestick Patterns – Part Three
In parts 1 and 2 of this short article series we discovered a technique for determining the short-term sentiment displayed by any sequence of candles. (Go here first if you missed part 1 or part 2) It’s time now to consider the context. ‘Consider the context’ means we consider where the current price pattern appears with respect to…
First Pullback after Significant Structural Change
I don't often trade after midday Eastern Time. It's the middle of the night here and I'd much prefer to get some sleep. But from time to time I'm alert and awake and there is no chance I'd be able to sleep even if I tried. So I'll complete some of my post-session review…