smoothy, candlesticks are fine, line charts are fine, renko is
fine, OHLC bar is fine, doesn't matter. regarding line
charts, they only show closing prices, some technicians like to
draw lines at the closing prices only, while others like to use the
wicks on the candlesticks. I say draw trendlines where you
get the most touches and ignore the really big candlestick
wicks.
Thanks Matt...I should not have used your valuable space here
for sarcasm but I just could not resist responding to that
ridiculous comment of candlestick patterns being useless "for years
now". :)
guys try to be a little more specific when you ask questions.
Steve and I get questions and pms all the time saying things
like, should I sell or buy stock ABC? Do you think this stock has a
wedge pattern. Just being a little more specific helps us to
answer questions much better.
also posts charts when you can vs only describing a pattern, it
helps
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Megaphone
Posted by freddy123321 on 3rd of May 2012 at 01:38 pm
Anyone notice it on spy?
what time frame? There's megaphones
Posted by kalinm on 3rd of May 2012 at 01:42 pm
what time frame? There's megaphones and head and shoulders everywhere I look.
Candlesticks
Posted by freddy123321 on 3rd of May 2012 at 01:47 pm
If you use candlestick charts they do not show pattern well. FYI Candlesticks have been useless for years now.
Didn't know that about candlesticks.
Posted by kalinm on 3rd of May 2012 at 01:51 pm
Didn't know that about candlesticks. What do you use?
OHLC charts
Posted by freddy123321 on 3rd of May 2012 at 02:40 pm
candlesticks useless now?...oh my
Posted by smoothy on 3rd of May 2012 at 02:06 pm
candlesticks useless now?...oh my
smoothy, candlesticks are fine, line
Posted by matt on 3rd of May 2012 at 02:14 pm
smoothy, candlesticks are fine, line charts are fine, renko is fine, OHLC bar is fine, doesn't matter. regarding line charts, they only show closing prices, some technicians like to draw lines at the closing prices only, while others like to use the wicks on the candlesticks. I say draw trendlines where you get the most touches and ignore the really big candlestick wicks.
and use the charting style you prefer,
Thanks Matt...I should not have
Posted by smoothy on 3rd of May 2012 at 02:30 pm
Thanks Matt...I should not have used your valuable space here for sarcasm but I just could not resist responding to that ridiculous comment of candlestick patterns being useless "for years now". :)
Daily
Posted by freddy123321 on 3rd of May 2012 at 01:45 pm
Daily
guys try to be a
Posted by matt on 3rd of May 2012 at 02:10 pm
guys try to be a little more specific when you ask questions. Steve and I get questions and pms all the time saying things like, should I sell or buy stock ABC? Do you think this stock has a wedge pattern. Just being a little more specific helps us to answer questions much better.
also posts charts when you can vs only describing a pattern, it helps