3. Candlestick Patterns—Recognizing Evolving Strength or Weakness

In the last chapter, ten traditional Western signals were presented. The purpose was to demonstrate how specific signals are stronger when found in close proximity to resistance or support, and especially so when the pattern takes price through those levels. Reversal is also forecast more specifically when the signals are strongly confirmed with independent signals.

This chapter expands on the concept by providing the same levels of insight for ten frequently successful candlestick indicators. The term successful means the percentage of times the indicator leads to predicted price movement. The ten signals include both bull and bear, and both reversal and continuation price patterns. ...

Get Profiting from Technical Analysis and Candlestick Indicators: Powerful Methods for Accurately Timing Trades now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.