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Candlestick Patterns... |
rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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Post: #181  Posted: Thu Sep 27, 2012 10:04 am Post subject: |
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| sherbaaz wrote: | | rk_a2003 wrote: | It's 'Topping Tails Pattern'.not a text book one.
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where have u found the pattern or read abt it ????
regds, |
Sherbaaz,
I said it ...it's not a textbook one....Consequitive topping tails indicates bulls attempt to take it to higher level and failure, in case bulls give up bright chances are there for it to come down or otherwise Bulls strengthen and absorb all the buyers at this level it may jump up.
Candle sticks patterns are all about psychology and commonsense... it's a well known fact.
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sherbaaz
Yellow Belt
Joined: 27 May 2009
Posts: 543
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| Post: #182 Posted: Thu Sep 27, 2012 10:11 am Post subject: |
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| rk_a2003 wrote: | | sherbaaz wrote: | | rk_a2003 wrote: | It's 'Topping Tails Pattern'.not a text book one.
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where have u found the pattern or read abt it ????
regds, |
Sherbaaz,
I said it ...it's not a textbook one....Consequitive topping tails indicates bulls attempt to take it to higher level and failure, in case bulls give up bright chances are there for it to come down or otherwise Bulls strengthen and absorb all the buyers at this level it may jump up.
Candle sticks patterns are all about psychology and commonsense... it's a well known fact. |
so u have invented it on yr own as its not a text book thing ?
As far as I know there is no such pattern even Steve Nison also know (I am not talking abt his books).
regds,
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #183 Posted: Thu Sep 27, 2012 10:20 am Post subject: |
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sherbaaz: i just googled and yes there is topping tail pattern.
May be Nison didnt write about it in his book (I have both books) but may have been invented later in Japan or elsewhere! ICharts will not allow me to mention any website but u can see for yourself. Prakash Holla
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #184 Posted: Thu Sep 27, 2012 10:26 am Post subject: |
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RK is right. Prakash, good to see you do your homework first. 
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sherbaaz
Yellow Belt
Joined: 27 May 2009
Posts: 543
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| Post: #185 Posted: Thu Sep 27, 2012 10:35 am Post subject: |
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| pkholla wrote: | sherbaaz: i just googled and yes there is topping tail pattern.
May be Nison didnt write about it in his book (I have both books) but may have been invented later in Japan or elsewhere! ICharts will not allow me to mention any website but u can see for yourself. Prakash Holla |
Prakash,
Get any video course of Nison if possible and u will be shocked to see how loosely ppl are using candlesticks patterns. half of the patterns which are there in the books he says is of not much use.
i will not google anything other than Nison work as rest of the work is copy cat from his work with hell lot of modification and glorification. Which will seriously put the trade in loss most of the time.
For candlesticks Nison is the last word for me. Nothing is there in Japan in candlesticks which he does not know but other knows.
regds,
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #186 Posted: Thu Sep 27, 2012 10:39 am Post subject: |
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| By the way, Prakash, it could not have been invented in Japan because as per Japanese candlesticks, inverted hammer is a bottom reversal pattern and topping tails can look like inverted hammers. But still RK is right and it is widely used. Why, even one topping tail is used as top reversal and RK has shown more than one.
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #187 Posted: Thu Sep 27, 2012 10:40 am Post subject: |
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| Sherbaaz: Your viewpoint was seriously given and will be taken very seriously indeed. Yes, u r right, the googling led me to some vague website. I will go thru my 2 Nison books again and refresh my candlestick knowledge and as suggested by you, follow only what he has brought out of Japan after years of patience and diligent study. Regards and thanks, Prakash Holla
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #188 Posted: Thu Sep 27, 2012 11:29 am Post subject: |
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| sherbaaz wrote: | | rk_a2003 wrote: | | sherbaaz wrote: | | rk_a2003 wrote: | It's 'Topping Tails Pattern'.not a text book one.
|
where have u found the pattern or read abt it ????
regds, |
Sherbaaz,
I said it ...it's not a textbook one....Consequitive topping tails indicates bulls attempt to take it to higher level and failure, in case bulls give up bright chances are there for it to come down or otherwise Bulls strengthen and absorb all the buyers at this level it may jump up.
Candle sticks patterns are all about psychology and commonsense... it's a well known fact. |
so u have invented it on yr own as its not a text book thing ?
As far as I know there is no such pattern even Steve Nison also know (I am not talking abt his books).
regds, |
I have gone through the whole two videos of Nison on Candle sticks.Not once, thrice.
What I try to do is in the real spirit of Nison. You got every right to disapprove it Sherbaaz.Who am I to invent anything.That could be a big word.? Pattern is there and I only did interpret it.
That's all. The rest, time has to tell.
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prst
White Belt
Joined: 24 Sep 2011
Posts: 87
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| Post: #189 Posted: Thu Sep 27, 2012 3:33 pm Post subject: |
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| rk_a2003 wrote: | | Just posting the Pattern....Rest you decide….Alternatively in case of break out up side …..Long positions can be considered. |
bro,
nice thread.
should we use some indicators like rsi along with candlesticks?
or some EMAs like 50 EMA to indicate support?
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vishyvaranasi
Green Belt
Joined: 11 Jul 2011
Posts: 1159
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| Post: #190 Posted: Thu Sep 27, 2012 3:58 pm Post subject: Hi RK, |
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Hi Rk,
Nice thread to start. Somehow see this as a supportive one to our Fusion thread which helps us take a trade if at all our fusion doesnt evolve completely.
Vishy
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #191 Posted: Thu Sep 27, 2012 7:13 pm Post subject: Re: Hi RK, |
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| vishyvaranasi wrote: | Hi Rk,
Nice thread to start. Somehow see this as a supportive one to our Fusion thread which helps us take a trade if at all our fusion doesnt evolve completely.
Vishy |
Hi vishy,
This thread was started by Ravi_S.
Yes, Candle stick patterns are useful when viewed in specific context. 'CONTEXT' is the key word. You minus the context from candle stick pattern. You are as good as blind.
Hi Prst,
Candle sticks are usefull and could be effective on their own.Mixing it with some other indicators is our choice.
RSI div mixed with Doji formation could be a lethal reversal indicator.
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #192 Posted: Fri Sep 28, 2012 9:02 pm Post subject: |
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RK - nifty daily with mini-topping tails and -ve div. Note that today's candle has actually broken the jinx of four consequative inside bars to last Friday's Mother bar. So future uncertain but I feel a small fall is imminent. Note that weekly chart shows a star and may turn out to be an evening star depending upon Monday's open (gap up/down) and next week's candle.
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #193 Posted: Fri Sep 28, 2012 9:11 pm Post subject: |
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| vinay28 wrote: | | RK - nifty daily with mini-topping tails and -ve div. Note that today's candle has actually broken the jinx of four consequative inside bars to last Friday's Mother bar. So future uncertain but I feel a small fall is imminent. Note that weekly chart shows a star and may turn out to be an evening star depending upon Monday's open (gap up/down) and next week's candle. |
Yes Vinay.Now Nifty is precariously poised with a leaning towards upside.Now a day's nifty is decisively diverging from Global markets.
Still, I wonder when are we going to see the imminent technical correction as you said.
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prst
White Belt
Joined: 24 Sep 2011
Posts: 87
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| Post: #194 Posted: Sat Sep 29, 2012 8:04 pm Post subject: |
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| rk_a2003 wrote: | | sherbaaz wrote: | | rk_a2003 wrote: | | sherbaaz wrote: | | rk_a2003 wrote: | It's 'Topping Tails Pattern'.not a text book one.
|
where have u found the pattern or read abt it ????
regds, |
Sherbaaz,
I said it ...it's not a textbook one....Consequitive topping tails indicates bulls attempt to take it to higher level and failure, in case bulls give up bright chances are there for it to come down or otherwise Bulls strengthen and absorb all the buyers at this level it may jump up.
Candle sticks patterns are all about psychology and commonsense... it's a well known fact. |
so u have invented it on yr own as its not a text book thing ?
As far as I know there is no such pattern even Steve Nison also know (I am not talking abt his books).
regds, |
I have gone through the whole two videos of Nison on Candle sticks.Not once, thrice.
What I try to do is in the real spirit of Nison. You got every right to disapprove it Sherbaaz.Who am I to invent anything.That could be a big word.? Pattern is there and I only did interpret it.
That's all. The rest, time has to tell. |
when i googled on the net, another person, "stephan bigalow" has some website (candlestick forum) . not sure about his authenticity though .
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #195 Posted: Sat Sep 29, 2012 8:26 pm Post subject: |
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| prst, not just one but plenty of info on it.
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