Candlestick charting is perhaps one of the most powerful, yet misunderstood technical indicators for traders today. The purpose of this thread is to expand awareness of the power and versatility of this virtually unused technical indicator.|
For those who are unfamiliar with the technique, I recommend the text "Candlestick Charting Explained: Timeless Techniques for Trading Stocks and Futures" by Gregory L. Morris.
Traders who combine candlesticks with the traditional technical indicators will find this a valuable tool in picking tops and bottoms, or just continuation patterns. Examples of the predictive power of candlestick charting include: (1) the ZITL peak in December 1996 (2) the ITWO bottom in June 1997 (3) AULT peak in May 1996.
Ideas from all interested or experienced traders are welcome.