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Very true, however newbs should beware that you can't tell beforehand how long it will take and what happens between then and now, of course. In hindsight, gaps are classified as "Exhaustion" or "Continuation/Breakaway". In Bulkowski's book, he has some great statistics: Exhaustion gaps...

Know your trading methodology: if you know what your win % is supposed to be, how much you are supposed to make, how much you are supposed to lose, etc., then you know when to stop trading and have a good look at what is going on. Both discretionary and mechanical traders are allowed to keep...

What was your TA rationale for entry at that price, and what are you looking for on the upside? I see the congestion on the daily chart over the past couple weeks, so I understand your stop is at the latest support level. Thx Pete

TS-- I had a very similar trade today, except my entry was a buy stop at 31 since if you look back over the past week the R was up to 30. Pete

Meeting this Saturday, June 18th, 3pm at the Crown & Anchor Pub. See you there! Pete

Edwards & Magee is the best resource for learning about the classic price and volume patterns. Then there is Bulkowski's "Encyclopedia of Chart Patterns" which is actually much more than the title; he actually computed probabilities for all of the patterns from daily stock charts, and goes into...

Note the wording... "Tell me what is about to happen". Of course if you test candlesticks this way, or any TA, none can tell you what is going to happen. That is what you correctly found when you "tested candlesticks". On the other hand, if you are looking for something that can slant the...