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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 [...] When four Candlestick Reversal Warning Patterns appear at the top of a long price advance, we sit up and take notice, because they suggest a strong likelihood that prices are about to head in the other direction. In this example (the Daily chart of the EUR-USD), the first bar was a rather ordinary “Shooting [...] Following a strong three-wave countertrend upmove which began on February 8, 2010, the Dow Transports have put on display a nearly-perfect Candlestick Bearish Engulfing Pattern. This example is easy to spot. After two strong white Candles (signifying “up” days) at a logical end to a long uptrend, the tall black Candle (signifying a “down” day) [...] The price of Gold marked its all-time High of $1228 per ounce on December 3, 2009. Since that time, Gold fell sharply, beginning on December 4, as depicted by a tall black candlestick bar for that day. From a “Wave 1 Down” Low on December 22, Gold retraced just over 50% of its initial decline, [...] Dynamic price moves consist of five waves, three of which are in the direction of the operative underlying trend and two of which are corrections, in the opposite direction. The result is an up-down-up-down-up motion. At the end of the fifth wave, prices will always be higher than they were at the beginning of the [...] The Candlesticks “Shooting Star” Pattern in Crude Oil Didn’t Disappoint, After All Yesterday, we noted here the appearance of a classic, perfect Japanese Candlestick “Shooting Star” pattern in the April contract of Crude Oil. The Shooting Star is generally recognized as a very bearish indication of the future course of price action. We usually look [...] Japanese Candlestick “Shooting Star” Pattern Warns of Possible Price Selloff Of all of the Candlestick reversal patterns, the “Shooting Star” is regarded as one of the most potent and most reliable. We have a perfect example of the Shooting Star in Crude Oil yesterday, March 9. One could hardly wish ever to see a better [...] A Perfect Japanese Candlestick “Shooting Star” in Crude Oil Today – Let’s See Whether It Works There are several price patterns in Japanese Candlestick theology which are considered to be quite reliable. Among them is the “Shooting Star” pattern, in which the total price action of the particular time period lies well above the price [...] Did The Candlesticks Tell Us Today That There Is Light At The End Of The Tunnel? The investing world has watched in horrified fascination, week after week, as the stock indexes have continued down a slippery slope all the way down to 6627 on the Dow Industrials. With only the briefest of respites, the trend [...] |
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