Right thats equity market ,not sure what Hussin would say about gold but is correct for fx
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DislikedRight thats equity market ,not sure what Hussin would say about gold but is correct for fxIgnored
DislikedBaz actually the name is not important ,really I try to understand the concept of
if a candle is created by buyers or sellersIgnored
DislikedYes ..i understand..BUT i see from many of Your POSTs..YOU tend to REFER to WICKS quite a lot...even when they are Small..
i am trying to understand this Cocept..also HUSSIN too would refer to WICKS in identifying " BUYERs or SELLERs "..
i will pay more attention to yourposts when you refer to them..
Ps Not part of CandleSticks..BUT on Gold 4 hr Tf did You Notice the SUPPLY ZONE as PER SEIDENs work ??and a DROP followed
Tmac will kill me now..so sorry in advance
bazIgnored
DislikedIt's not just the wicks that would invalidate the hammer reversal signal.
If the candle closes with a small wick on top and the candle opens below the previous candle close, it's a Bearish Neck in Line (like in the first chart below).
If the candle closes with a small wick on top but the candle opens above the close of the previous candle, it isn't a Bearish Neck in Line. (like the May 18th reversal candle on the GU 1 hour, second chart below)
It's a subtle difference that I didn't notice before....Ignored
DislikedIt's not just the wicks that would invalidate the hammer reversal signal.
If the candle closes with a small wick on top and the candle opens below the previous candle close, it's a Bearish Neck in Line (like in the first chart below).
If the candle closes with a small wick on top but the candle opens above the close of the previous candle, it isn't a Bearish Neck in Line. (like the May 18th reversal candle on the GU 1 hour, second chart below)
It's a subtle difference that I didn't notice before....Ignored
DislikedBaz I dont think Hussin has said ,hes real candle trader not text book ,
please refer to Hussin for info ,he has given toolsIgnored
Dislikedi know this going to be hassle for You..but if you can can you direct me to any further posts regards to HUSSINs understanding of it..
If not ..no probs..i will scan in the W/E..
BUT i read in AUSLANCO thread where HUSSIN ,mentioned,he prefers to sees a reversal before the " NECK " patterns..
after all this my " NECK " is hurting !!!
bazIgnored
Dislikedalso from what i understand..there has to be a reversal pattern BEFORE the in neck line pattern is seen as well.Ignored
DislikedAs a pattern the On Neck has a slightly better chance than break even of working out. This is probably because a Takuri Line is a strong signal of buying pressure which can often outweigh the candle body open or close. It probably wouldn't have affected my confirmation for entry on my gold short yesterday (or a long if we had broken out on the high and other analysis supported the trade).
Like everything else, many of these patterns need to be considered against equally important factors, especially if the failure rate on them is high.Ignored