April 2008
Beginner to intermediate
358 pages
11h 48m
English
Content preview from Candlestick Charting For Dummies®
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Chapter 6
Single-Stick Patterns That Depend on Market Context
In This Chapter
Identifying market environments
Digging into doji details
Understanding spinning tops
Encountering belt hold basics
Taking a look at hanging men and hammers
In Chapter 5, I cover a few of the more basic and easily defined single-stick candlestick patterns, which are either bullish or bearish indicators regardless of their location on a chart. For those patterns, the price action that occurs during the previous few days just isn’t that significant.
But not all single-stick patterns are that straightforward. Some extremely useful single-stick patterns rely heavily on their location on a chart. Making yourself familiar with these patterns and how to identify and trade based on them is another way that you can add a versatile weapon to your trading arsenal. That’s what this chapter is all about. Also, context is essential to the single-stick patterns that are covered in this chapter. This isn’t always the ...
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