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Tuesday, March 2, 2010

The 5min Candle Reverse Setup


i have posted this before, i look for the big doji or indicive candle marked by the arrow. Then i see if the candle before the doji a is bear candle and that the candle after is a bull candle, that gives me a good idea the market is now going to be bull for some pips. It happened twice in todays session. Price pushed down but could not sustain the move down creating the doji and reversing the market back up. Hope this helps in recognizing candle patterns that happen a few times a week in NY. Just another tool for your box...

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