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Profile: abegin113
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User Name: abegin113
Groups: Gold User, Member, TeleChart
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Joined: Tuesday, December 28, 2004
Last Visit: Saturday, January 1, 2005 10:00:34 PM
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Topic: Candle Sticks
Posted: Tuesday, December 28, 2004 8:15:36 PM
I have been using candle sticks, MACD, Stochastics, RSI, Keltner, Bollinger Bands, and other various tools for the last 8 years. You might want to look at the RSI with reversal points for swing trades, however be careful of forced trends. The forced trends will show a qualified reversal from a retracement. The rectracement will be to small for any type of profit and you will be stopped out. The other thing to watch out for are blow offs, these will happen at a reversal point based on candel sticks. If you are looking at a long reversal, the market will move up from the pattern then turn sharply down. Once the down has been made the market will move back in the direction of the long pattern. These few senarios I have found will destroy your account balance if you aren't careful. I hope this helps. I would also like to look a little bit closer at the RSI again as well.