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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
quote:
Originally posted by redsixspeed

Now can the pattern fail? Sure it can news can change the market, a threat of attack
a war, but under what may be called normal trading the pattern works.



As with all s/r after they have been hit the first time they become weaker (imho) when hit again if there is a move up/down it may
not be as much as the first move from that area. Apply your rules.
quote:
Originally posted by redsixspeed

One area I'll be looking @ to the downside is the mid point of that big
5/15min. candle



We hit the mid point of that dominate candle @ 4:55pm edt
@ 834.00 not much volume though
The low of the dominate 15min. candle from 4/9 is 826.50. This will be
an area to watch if we move in that direction
quote:
Originally posted by redsixspeed

quote:
Originally posted by redsixspeed

One area I'll be looking @ to the downside is the mid point of that big
5/15min. candle



We hit the mid point of that dominate candle @ 4:55pm edt
@ 834.00 not much volume though



That 834.00 area trying to be a tuff nut to crack


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This is the candle I posted on 4/9 and have been rambling about
acting as support.


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The 834.00 area has acted as support, but sometime in the future we will have a
change of polarity and this area will be resistance
"Where a candle pattern or line appears within the market picture is often more important
than the individual candle pattern"....pg 147 Japanese CandleStick Charting Techniques


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Not sure why this pattern has shown up so much lately, as I said there are others.
This will be my last post in this topic.
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 ...