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It is nearly a certainty that the Dow Jones Industrial Average posted a top and a reversal of trend in January 2012. The top and the reversal are illuminated by two charts of the Dow in Japanese Candlestick display. The 180-minute chart of the Dow reveals a telling, although imperfect, “Shooting Star” reversal bar. Typically, [...]  The Japanese Government has a history of intervening in the currency markets by selling the Yen and buying the US Dollar, thereby helping its domestic manufacturers by lowering the price of its exported goods in terms of the Dollar. The attached Japanese Candlestick chart of the USD-JPY currency pair depicts a strong surge in the [...] The attached chart of the NYSE Composite depicts two Japanese Candlestick Trend Reversal Patterns – the Evening Star and the Morning Star. The Evening Star pattern appears at the top of a long price advance. It is characterized by a tall white candle, which indicates a strong Up day; followed by a candle which exhibits [...] The Japanese Candlestick Bearish Engulfing Pattern occurs at the top of a long advance in prices. As its name implies, it has bearish connotations. It will display a tall black candle whose “Real Body” fully wraps around, or subsumes, or engulfs the Real Bodies of one or more price bars which precede it. The more [...] The “Real Body” of a Japanese Candlestick price bar is that “fattened-out” part of a typical Open-High-Low-Close price bar which represents the price range between the Open and the Close. If the Close is higher than the Open, then the Real Body is not filled-in; rather, it is left “white.” If the Close is lower [...] The example which is shown on the accompanying Weekly chart of Urban Outfitters is the largest Japanese Candlestick Bearish Engulfing Trend Reversal Warning Pattern that I have ever seen. The “Real Body” of the tall black candle completely engulfs the “Real Bodies” of the seventeen previous price bars. What does “Real Body” mean? It [...] The Bearish Engulfing Pattern is one of the most powerful and reliable of all Japanese Candlestick Reversal Warning Patterns. It is found at the top of a long price advance, and is characterized by a tall black candle whose “Real Body” (i.e., the price distance between the Opening price and the Closing price, shown as [...] The Candlestick “Shooting Star” trend reversal warning pattern arises at the top of a long uptrend. It is so-called because it looks very much like its namesake: it is high in the sky (above all recent prices), it has a tiny “head” (the “Real Body”), and a long tail. It is a bearish pattern, foretelling [...] In Japanese Candlestick terminology, the “Real Body” of an individual price bar is the “fattened-out” part thereof. If the Real Body is left “white,” the Open was at the bottom of the Real Body while the Close was at the top of the Real Body. The reverse is the case if the Real Body is [...] The Bullish Engulfing Pattern is one of the most reliable Candlestick Reversal Warning Patterns. It appears at the bottom of a long downtrend, and is characterized by the “Real Body” (that is, the price distance between the Open and the Close) of a tall white Candle (signifying an “Up” day) completely subsuming, or engulfing, the [...] |
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