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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Sunday, 5 February 2012

Weekly candle reversals are amongst the most reliable medium term indicators ,I think.This one is not encouraging for the bears,I have to say !

 
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2 comments:

  1. Anonymous5 February 2012 at 15:05

    So disregard the candle from 2/16/07, 7/13/07, 4/23/10 and 7/22/11 is what you are saying.

    When you fail to pick out the times it doesn't work the analysis doesn't seem so correct. It is a good indicator at bottoms but a terrible indicator at tops.

    ReplyDelete
  2. Chartrambler5 February 2012 at 15:44

    The May high was a bearish engulfing which I omittedto arrow .The high after that was an evening star reversal pattern

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