Quote:
Originally Posted by droog
Bloody good fred this! 
tonymand, jocelyn and tess............do you look out for candlestick formations a la Steve Nison? I've got hold of a PDF of one of his books and am going to give it a butchers over the weekend.
cheers4now |
I have got 2 of his books and there is a lot of good material. A few things though. Candlesticks give you the same information as an OHLC bar chart its just that in some cases it is more visually appealing. If you look at my charts as posted you will see I use line, bar and candlestick depending on the application and aim. Candlesticks like anything else on their own mean little. However if they are occuring at critical levels then they can tell you a whole heap about what the crowd is up to. A combination therefore of candles (or bars whichever you prefer) and the larger scale action as shown by the levels on different timeframes is very revealing. After all James IB/OB technique is at its simplest a particular candle pattern. I think you will find Nison readable and sensible and I have not found a better source of information on candles so hope you enjoy