They're possible reversal candles...but they must be confirmed.
In other words, tomorrow or soon after SPY would need to close
below the close of the hanging man candle, preferably below the low
of it, to confirm a short-term reversal. Same for SDS, just
opposite direction.
I'm sorry I'm not having any luck posting a chart. I tried to
attach it but I'm not doing something right.
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candles
Hanging Man on SPY
Posted by slater0 on 21st of Jul 2009 at 11:17 pm
They're possible reversal candles...but they must be confirmed. In other words, tomorrow or soon after SPY would need to close below the close of the hanging man candle, preferably below the low of it, to confirm a short-term reversal. Same for SDS, just opposite direction.
I'm sorry I'm not having any luck posting a chart. I tried to attach it but I'm not doing something right.