Candlestick patterns-Intraday-ES, US, Euro

Quote from JackDaniel:

NihabaAshi,

I appreciate your fine information about trading with candles. It's helped me quite a bit. But I gotta ask why, and even how you can look at candlestick charts of such poor quality with candles on top of each other? It's hard to see where one candle starts and another begins. I don't want to dis you or your information in any way. I'm just curious why such a successful trader as you could stand to look at that all day. The program I'm using, InvestorRT, and I'm sure many others make very good looking candle charts.

jd
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Jack,

I use a multiple monitor workstation.

Because of such...I'm unable to attach an actual image (the entire workstation) that includes everthing I make trade decisions...such as the 3min chart on one monitor and 15min chart on another monitor due to the limitation size EliteTrader has on attachments (102400 bytes).

Note: I could have posted multiple images but didn't feel like it.

Thus, for ET and other visual explanation...I have no choice but to squeeze all annotations about the 3min chart and 15min chart onto one image (.gif).

As for the spacing between each candlestick...it looks fine to me...I have very good eyesight and I don't look at the monitors all day.

By the way...the other day someone wanted to know if it was possible to reduce the spacing (make it smaller) to show more info :cool:

Can't make everybody happy...I can only do what's comfortable for me to look at.

Out of curiousity...can you upload (attach to your reply) an image of the 3min and 15min (as one chart) to show exactly what I did with the same annotations via InvestorRT???

I'm curious to see what type of spacing between each candlestick your using would like like if you posted the same image via InvestorRT.

Also...there's a third chart that I didn't show (NYSE TICK). Had I shown that...it would have reduced all 3 charts further.

NihabaAshi
 
NihabaAshi,

Thanks for the nice reply. I was thinking I was a bit harsh about your charts. Certainly I don't think the way charts "look" is the key to success :)
And everyone has their own preferences for their chart layouts. I guess it's just what you end up being comfortable with.

I will attempt to post a chart or two, but I've never done that here before, so I'll experiment first, then try to post.

jd
 
NihabaAshi,

Here are my charts that I tried to match up the amount of time (bars) and window size on each to match yours. I didn't recreate your notes on the charts.

I notice my charts don't come up in my browser like yours did. Is that because of the file format I used, which was pdf?

jd
 

Attachments

Quote from JackDaniel:

NihabaAshi,

Here are my charts that I tried to match up the amount of time (bars) and window size on each to match yours. I didn't recreate your notes on the charts.

I notice my charts don't come up in my browser like yours did. Is that because of the file format I used, which was pdf?

jd
More...

Hi Jack,

Thanks for the charts.

I use a little free program called Xnview to do my screen captures.

http://www.xnview.com

This is how I avoid using attachments that needed to be downloaded and then opened as a .pdf file to see the charts.

(.pdf's that only contains charts creates an extra step to view)

Your charts has a spacing of 1 size bigger than my charts but seems to contain the same amount of info...

Via your charts...any Doji is visable whereas with the type of spacing I use...all Dojis are blended (a little more difficult to see) with the prior and next candlestick in comparison.

I may be able to fix that on my charts while containing the same amount of data.

NihabaAshi
 
NihabaAshi,

I've saved as a png file. I tested this and it comes up in the browser so no second step, I hope.

Here is my 5m pivot chart. I know I'm way out of my league at this point about candle interpretations, but one of the things I've noticed is the significance of Dojis that are near pivots. This seems to say, "hey, a decision is about to be made about a direction change, watch closely".
I notice that if a doji is directly above or below the pivot, then if price goes over the pivot, then that signals that a decision has been made for price to continue in that direction. I don't have any stats on how often this works, it just seems like I see this quite often.

Thoughts?
jd
 

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Quote from NihabaAshi:

My discussion of this trade signal is for those traders using intraday candlestick patterns and trading via size.
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You ought to open up a journal for this kind of thing rather than have it get buried in a forgotten thread. That would make it easier for people to find and to refer to. "Searching" just isn't practical.
 
Quote from dbphoenix:



You ought to open up a journal for this kind of thing rather than have it get buried in a forgotten thread. That would make it easier for people to find and to refer to. "Searching" just isn't practical.
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Hi dphoenix,

I don't think Century is looking for a journal...he seemed to be looking for observations and such regardless whether they occur as actual trades or just signals.

Also...I believe the thread was started elsewhere and got moved to its current location...I could be mistaken.

As for me...I'm under the impression the Trade Journal threads are for actual trades...

I've been posting information about missed trades.

Besides...I already have 2 online trade journals (public and private) in a controlled environment for personal reasons and not to seek any feedback about my actual trades and I have no intentions of starting a 3rd one...

especially not at ET where authors aren't allowed to moderate their own journals nor manage their own journals.

In addition, if anything...if this thread gets moved...maybe the Technical Analysis or Strategy Trading would be more appropriate than the Trade Journal thread...

Mainly because those threads already have discussions about Japanese Candlesticks, Divergence, Pivot Point Analysis et cetera like discussions where traders are talking about the would'uv, could'uv, should'uv type stuff.

NihabaAshi
 
I would agree. After reading through many of the past and present journals it would appear that they are the victim of the TROLLS OF ET.

I for one would never start such a journal on ET because it would never be appreciated.

NEVER CAST YOUR PEARLS among SWINE!
 
I should think that this stuff would be most easily found in a journal. But it's up to you. At any rate, I'm sure those who've taken the time to read this thread have benefitted from your charts.
 
The action this morning provides a good example of why waiting for a gap to "close" may not be a winning tactic these days, particularly with regard to markets that are traded overnight. The shooting star on the 5m NQ found R at the lows of 11/11, and waiting for a gap closure would have meant missing out on the trade.

Note other bar intervals and indexes may have shown only a long tail.
 
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