Candlestick Charting - Vol 15 - Evening Star

[harshshah3012]

@5.14 the two candles at initial support level..the one red and the green..wont it signal a bullish harami??? waiting for your reply

[harshshah3012]

Firstly nice videos..Hope that this patterns work in Indian Markets as well..

Well @6.38 the two candles look like a bearish engulfment won't it be a signal for bearish reversal pattern??

[ipctec]

great stuff !

[abdulaibee]

BEST COACH EVER!!

anyhow i have a question, how/when does a candlestick close and open?

[YourTradingCoach]

Hi abdulaibee,

Glad you enjoyed the candlestick video series.

The open is simply the first price traded in that candle period (or first price bid for forex and CFDs). The close is the last price traded (or bid for forex/CFDs) for the candle period. The candle period is whatever you have set your charts to. eg. five min charts - each candle represents 5 mins, from open price to close price. On a daily chart, each candle represents one day of transactions, from first price to last.

Cheers,

Lance.

[megahoed]

do you take volume into account?

[YourTradingCoach]

Although many people trade price / volume analysis very successfully, it's not something that's ever really fit well with my style. I therefore make very little reference to volume at all.

In trading something like an Evening Star, and incorporating volume, you'd be looking for the same as with any reversal pattern. Either decreasing volume as price rallied to resistance, and incr vol on the break back down, or a blow-off (climactic) volume at the highs.

Cheers,

YourTradingCoach