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     stickman
Member
Username: stickman
Post Number: 1055
Registered: 06-2004
Rating: N/A
Votes: 0
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| | Tuesday, January 30, 2007 - 08:48 am: |  
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HI
some might find this link useful/useless
cheers
http://www.hotcandlestick.com/candles.htm
Trade to Learn, Not to Earn.
when you lose,don't lose the lesson.
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ingot54
Member
Username: ingot54
Post Number: 1650
Registered: 05-2004
Rating: N/A
Votes: 0
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| | Tuesday, January 30, 2007 - 06:21 pm: |
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Thanks Stickman
I have added it to Favourites folder beside these:
www.candlestickchart.com/glossary.html
www.leavittbrothers.com/education/candlestick_patterns/
What I would like to see is a printable chart, similar to the one in your link, which also comments on whether the pattern is :
1) Highly Reliable
2) Moderately Reliable
3) Other...
I guess if I really want that I could simply pencil in those comments.
But a large size chart would be really neat.
I s'pose I could always exercise the grey matter and commit it all to memory!
Keep Smiling - Don't look back
Trading style: Chartist Artist _ Breakouts and Shakeouts.
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stickman
Member
Username: stickman
Post Number: 1056
Registered: 06-2004
Rating: N/A
Votes: 0
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| | Wednesday, January 31, 2007 - 11:42 am: |
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HI Ingot
here is another i check daily for new 52 week highs then stick the ones that look okay on to a watch list ?
cheers
http://clients.weblink.com.au/clients/equitiesinfo/
Trade to Learn, Not to Earn.
when you lose,don't lose the lesson.
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ingot54
Member
Username: ingot54
Post Number: 1652
Registered: 05-2004
Rating: N/A
Votes: 0
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| | Wednesday, January 31, 2007 - 07:06 pm: |
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Thanks Stickman.
Amazing what is out there now.
Keep Smiling - Don't look back
Trading style: Chartist Artist _ Breakouts and Shakeouts.
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qed
Member
Username: qed
Post Number: 48
Registered: 01-2006Rating: N/A
Votes: 0
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| | Saturday, February 03, 2007 - 12:33 pm: |
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hi Ingot , www.candlestickchart.com/ will give you a list of bull and bear candles with strong weak or ord ideas , cheers Qed
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ingot54
Member
Username: ingot54
Post Number: 1655
Registered: 05-2004
Rating: N/A
Votes: 0
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| | Saturday, February 03, 2007 - 06:44 pm: |
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Thanks Qed.
This is actually one of the sites I am using. Have been considering a membership - but just "considering"...
I was looking for a site that had the strength/probability of success/reliability of pattern printed below each pattern. (I can do this myself - will probably create a hard copy flip-chart to hang on the side of the desk.
At the risk of going wide of the topic here, have a quick look at the pattern below.
I have looked far and wide and can not match it with anything "standard". I have decided it is moderately bearish. I have removed the name of the stock (hopefully it won't appear in the email link to give it away) so that the opinions are not biased through subjectivity.
Keep Smiling - Don't look back
Trading style: Chartist Artist _ Breakouts and Shakeouts.
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tryhay
Member
Username: tryhay
Post Number: 509
Registered: 09-2005
Rating: N/A
Votes: 0
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| | Saturday, February 03, 2007 - 08:31 pm: |
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Ingot ~ this chart looks a lot like BHP to me 
I suggest that only providing one month's price action disconnects the context of the chart (maybe you wanted to do that).
At a minimum this chart demonstrates volatility & the last few candles are not +ve. other indicators provide some pointers on where it is heading....
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hershy
Member
Username: hershy
Post Number: 1911
Registered: 10-2002
Rating: N/A
Votes: 0
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| | Saturday, February 03, 2007 - 10:04 pm: |
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Tryhay,
I am impressed that you recognised the chart as BHP. You must have an excellent memory. The chart is BHP and I shall attempt to analyse it as the unnamed chart that it was when posted by Ingot.
Going from left to right,
The first arrow highlights the increased volume on a day that started with a gap down and got worse as the day went on, closing on the intraday low. What does the increase in volume tell us ?
Fear !
This next two days are a mixed bag though the range is fairly loose and the volume further suggests lack of committed sellers or buyers, we're all waiting to see what's going to happen next. And next is another gap, this one up with a bullish up day but the volume barely goes up a little, we're still undecided where this baby is heading and the following day is going to sow even more doubt in our minds, this being shown by the doji, in fact 2 dojis, two shooting stars, not a very positive, nay, a rather negative indicator of things to follow. And follow they do with two bearish down days and yet the volume does not change much. Still lack of commitment, we're bogged down in the trenches and no one has yet begun a Banzai charge.
Indecision still rules, this market seems range bound, there is no direction evident as yet. Nice gap up follows but we're still suspicious, could this be a bear trap? Gap up, increased volume, could this signify another capitulation and a new down move about to start ?
Next candle although lower than the last is nevertheless sticking pretty close to yestrday's range but then suddenly at arrow number 5 another bullish up day with a nice gap up at open and this on a day that sees the volume sit up and take notice. Hello, there is interest stirring amongst the troops. But again the action is restricted to a narrow range with fairly static volume. This is a ledge we're sitting on and ledges usually breakout in the direction that will continue the last move and that is up. When the ledge breaks as it does on the last candle it does so with another gap up but the close is below the open but fairly high in the day's range and just marginally higher than the day before. The bottom tail denotes that the sellers were loosing the battle and the buyers were pretty much willing to buy almost everything coming onto the market.
And is this bullish or bearish ?
I've no bloody idea !
"The safest way to double your money is to fold it over and put it back in your pocket."
http://members.optusnet.com.au/~hershy/
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ingot54
Member
Username: ingot54
Post Number: 1656
Registered: 05-2004
Rating: N/A
Votes: 0
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| | Saturday, February 03, 2007 - 10:29 pm: |
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Yes Mark - BHP. But I wanted to get an interpretation of the chart without the coloured view of "whom" we are talking about - some have great expectations of the big fellow!
All I can think is that the pattern is yet to complete.
Completion might mean a tall red or a tall green candle which engulfs the last 3 or 4 days.
In the charts below the trends are obvious - the primary uptrend is still intact although I have not shown that, but we currently have a small rally in an intermediate downtrend.
So what's the problem?
Just that this does not fit or sit right with the price action.
Here we have a stock which is being watched by the whole world because of its resources, particularly Copper and Uranium spring to mind (context of hot themes).
Yet at a time when superficially we are seeing a rally, the volume is actually receding and the Twiggs Money is flat.
Not only that, the candles are showing little gaps up on the open, but sell off lower through the day. The last dragonfly doji is definitely bearish, and I read the spinning top and the last green candle (doji) are all bearish or reversal elements.
Does anyone else have a bearish read on this too? Or am I missing something. The price should be going gangbusters, yet in London on Friday night the price actually dropped by 0.1%
What gives?
Keep Smiling - Don't look back
Trading style: Chartist Artist _ Breakouts and Shakeouts.
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ingot54
Member
Username: ingot54
Post Number: 1657
Registered: 05-2004
Rating: N/A
Votes: 0
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| | Saturday, February 03, 2007 - 11:06 pm: |
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As always it is good to look at a weekly chart!
Entirely different setup - no indecision and rising volume and Twiggs.
Still - is it enough to overcome those last three or four candles on the daily chart?
What gives?
Keep Smiling - Don't look back
Trading style: Chartist Artist _ Breakouts and Shakeouts.
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msparks
Member
Username: msparks
Post Number: 745
Registered: 10-2004
Rating: N/A
Votes: 0
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| | Sunday, February 04, 2007 - 01:15 am: |
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Hi Ingo
Sometimes the patterns are not perfect.
Sometimes the candles don't say much when the traffic lights are amber.The weekly seems clear.
Santos seems to have some room to go lower.
Metals fall on Friday night O/S looks grim for Monday.
BHP daily chart is very messy with gaps etc.Rio report was OK , BHP report ??? However the triangle will probably be resolved when the report comes out , one way or the other.
strategy - buy stop above 27 and sell stop below 24 perhaps, but then the false breaks 
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tryhay
Member
Username: tryhay
Post Number: 511
Registered: 09-2005
Rating: N/A
Votes: 0
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| | Sunday, February 04, 2007 - 07:20 am: |
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Hi Guys
I think you have received some useful feedback on the chart Ingot: I guess the point is that BHP is at critical area of resistance support ~ looking from a longer term perspective.
Some brokers were real bullish on it one month ago but I'm not sure what their position is now. The weekly chart below shows the 200 day MA + the resistance is in the way of further upside (IMO). Looking at the wider perspective of where the XJO is, and hard commodity pricing (not to mention the project management issues with some Ni & Cu mines) if there is more than a false break by BHP I am going to be surprised.
Weekly chart: My guess is the weekly envelope will turn down right about here...(at least by the end of Feb if not sooner).
Daily chart: It may in fact slavishly follow the ritual of the 200D_SMA respect here (and so slow its bounce back to the chart pattern)
For the record I'm both long and short (if that is not too skitzo), but I think I'll take some profit shortly....
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