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Candle Pattern


ES 15min. @ 8:30 bear harami / 9:15 bear engulf / if we
close above could be a further move up
bull separating line at the open ESZ1 .. this comes in the middle of a move .. so caution
7 November A session open gap higher opening started to fill, i.e., gap opening low, 11958 and the retracement is, so far, 11952. Gaps that start to fill, tend to fill. I faded (sold into the gap higher open) 1.618% of the Stretch calculation, i.e., 12008 (fills up to 12012). Price projection target, basis the (3, -1) formula targets 11888, but I'll be satisfied with a test of unchanged (67 pts x $5 = $335... +67% basis $500 intra-day margin). Waiting, without greed, to determine the offset.
Originally posted by redsixspeed

bull separating line at the open ESZ1 .. this comes in the middle of a move .. so caution


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Nison says "the pattern location is as important as the pattern" so CAUTION was the word ...
7 November: Basis YMZ1 (December $5 Dow futures) and the (3, -1) formula ... trading from unchanged, faded the 1.618% of the Stretch, 11941 + 67 = 12008, (12018 = high) projecting that as the (-1) of the (3, -1) formula, which was followed by the (3) of (3, -1), i.e., 12008 - 67 -67 - 67 = 11807. 11786 = low. (Yeah that's a run-on sentence, but "what do you want for nuthin? A rubber bisquit?") The projected price to fade was ten points (risking $55) below the high, 12018. And the projected low was 21 (risking $105) above the actual print low, 11786.
Thanks for the post Hunter, but keep it on topic please, this is candle pattern ...
that 5' belt hold line at 4a.m.et had good volume and acted as support .. if you don't understand the candle term search it
I don't trade with MAs ... but recently I started looking at them .. I have set up a quad chart with different time frame of MAs .. Today at 11:30am et. all four MAs came together and in fact price hit them about the same time .. I just got started with this so I'll post what I see from time to time .. looks good so far .. My intent is to use them as a confirming tool not a primary ...