Title: help! candle stick chart
nasal - March 20, 2005 01:09 PM (GMT)
Hi guys,
can someone help me to interpret the candle stick of this chart?
What will happen next? price drop further?
thanks
can someone help me to interpret the candle stick of this chart?
What will happen next? price drop further?
thanks
Hc - March 20, 2005 03:49 PM (GMT)
nasal:
Not candlesticks view, but you can look at this thread:
http://s7.invisionfree.com/ChartistsUnited...p?showtopic=185
Not candlesticks view, but you can look at this thread:
http://s7.invisionfree.com/ChartistsUnited...p?showtopic=185
nasal - March 20, 2005 03:56 PM (GMT)
HC,
thanks for the link.
Do you know what does the candle stick tell?
thanks for the link.
Do you know what does the candle stick tell?
Hc - March 20, 2005 04:06 PM (GMT)
nasal:
I do not think rely purely on candlesticks is good enough, so reference to other TA tools is necessary, as candlestick's view can change within 1 candle.
If purely base on candles, here are what I see:
1. More long black candle seen since 14 Feb, bearish & trend changed.
2. 2nd last candle also long black candle, ditto.
3. Last candle body getting smaller with long shadow, signing sell down pressure ease.
4. Last 2 candles has the same low (forget the candle name for this), low become a temporary support. Will it turn into a rebounce/reversal, too early to tell.
I do not think rely purely on candlesticks is good enough, so reference to other TA tools is necessary, as candlestick's view can change within 1 candle.
If purely base on candles, here are what I see:
1. More long black candle seen since 14 Feb, bearish & trend changed.
2. 2nd last candle also long black candle, ditto.
3. Last candle body getting smaller with long shadow, signing sell down pressure ease.
4. Last 2 candles has the same low (forget the candle name for this), low become a temporary support. Will it turn into a rebounce/reversal, too early to tell.