A little confused about understanding candlestick charts

Duref Mudgins · Aug 13, 2012

Quote from johnstac:

Trying to learn what I can about candlestick charts as they apply to reading price action. Was reading a commentary and he was throwing out acronyms like A1 and W1P and many others. Figured before I can start reading price action I probably need to start from the beginning. I did some searches on these acronyms and it looks like they originated or are at least explained in depth by Al Brooks. Couldn't find any in depth info yet online so thought about getting a book from someone that gets into it. I have read many comments about a book called "Bar by bar" by Al Brooks but mostly not favorable. Having said that, would one still recommend this book or are there any other sources where I can get this info broken down?

The one that really threw me off was here: http://ninetrans.blogspot.com/2011/09/price-action-basics-i-bar-selection.html where he gets into well-formed bars and I just don't understand it. I'm not really asking anyone to explain this specifically but want to find a source where I can learn about all of it. Thanks.

I am going to say this as gently as I can. You are a conplete and total dumbfuck. Go research the origin of candlesticks. They were meant for daily analysis only. Dumbfuck!

wrbtrader · Aug 13, 2012

Quote from learner2007:

But you didn't understand what I had said, and that's why you need English lessons!!

I understand clearly what you're implying regardless to what you actually wrote about Japanese Candlesticks based upon now in this thread and the past in a prior thread. Hopefully, you'll understand that...its not complicated.

oldtime · Aug 13, 2012

Quote from Duref Mudgins:

I am going to say this as gently as I can. You are a conplete and total dumbfuck. Go research the origin of candlesticks. They were meant for daily analysis only. Dumbfuck!

in case you haven't noticed markets trade now 24/7, not just in Japan during working hours, and computers can now divide a day up into hours, minutes, or as I was seeing on CNBC one HFT had his charts set to 1 tenth of a second.

Many times people develope new products which are vastly different from what they were originally meant for.

Your vulgarity was totally uncalled for.

TIKITRADER · Aug 13, 2012

Quote from oldtime:

.....
Your vulgarity was totally uncalled for.

oldtime, Duref did not finish his morning ' wake me up ' for beakfast.
You'll find him quite polite after the third drink

wrbtrader · Aug 13, 2012

Quote from oldtime:

...Many times people develope new products which are vastly different from what they were originally meant for.

Your vulgarity was totally uncalled for.

Agree.

We traders like to take something and make it our own even though our design is in contrast to the original purpose. Unfortunately, if our way of using something doesn't work...we blame the originator of the analysis or trade method instead of pointing the finger at our self.

A few days ago I was reading an analysis for corn futures and then I saw a few replies to the author about how can one apply it to trading Emini futures like the S&P 500 Emini ES.

Duref Mudgins · Aug 13, 2012

Quote from oldtime:

in case you haven't noticed markets trade now 24/7, not just in Japan during working hours, and computers can now divide a day up into hours, minutes, or as I was seeing on CNBC one HFT had his charts set to 1 tenth of a second.

Many times people develope new products which are vastly different from what they were originally meant for.

Your vulgarity was totally uncalled for.

Sometimes vulgarity is the only way to get through to stupidity. Candlesticks were invented to predict the daily price action of rice. I don't know if they still work for that, but otherwise they are totally fucking useless. Except for hucksters who sell "analyzing" them.

Duref Mudgins · Aug 13, 2012

Quote from TIKITRADER:

oldtime, Duref did not finish his morning ' wake me up ' for beakfast.
You'll find him quite polite after the third drink

Actually, it is after the third orgasamum, mum.

learner2007 · Aug 13, 2012

Quote from wrbtrader:

I understand clearly what you're implying regardless to what you actually wrote about Japanese Candlesticks based upon now in this thread and the past in a prior thread. Hopefully, you'll understand that...its not complicated.

If you had understood what I was saying, you woudn't have said "That's false".
But who am I to question someone who knows everything based on the fact that he knows 6 Japanese traders, when I guess I've met almost 6000 traders in the near 50 years I've lived in Japan.
Boy, I'll bet you can use chopsticks too!!

I'm going to bed, and I think you should go to Berlitz!!

oldtime · Aug 13, 2012

Quote from Duref Mudgins:

Sometimes vulgarity is the only way to get through to stupidity. Candlesticks were invented to predict the daily price action of rice. I don't know if they still work for that, but otherwise they are totally fucking useless. Except for hucksters who sell "analyzing" them.

well, they weren't actually invented to "predict" the price of rice, they were used to record the open, the high, the low, and the close. Some began to believe they saw patterns which were predictive.

Duref Mudgins · Aug 13, 2012

Quote from oldtime:

well, they weren't actually invented to "predict" the price of rice, they were used to record the open, the high, the low, and the close. Some began to believe they saw patterns which were predictive.

Well said. You got me. Points to you, but only because you are sober. I recently burnt my rare copy of Seiki Shimizu, which I read from front to back and back to front to no profit. You want to understand price action? Watch a one-second chart annotated for S/R.