very often Steven I see something like a J hook pattern immediately after a fry pan or what I often call a 2 man saw pattern after the fairly flat short up trends of 2-5 bars up and down of less than 5 ticks each. Anyways about half of the time the J hook pattern is immediately followed by a rebound that goes all the way back down to the original price range and often even further than the original tight price range pattern. Is this a Japanese candle stick pattern that is named and is there an indicator during the bleeding edge of it occurring as that first candle transforms into the second (maybe a range of scarce seconds) where you can tell if this is going to continue to range up, or if that sucker is going to rip saw you and change direction literally in a single moment? I've been watching Crude Oil particularly for months now and have seen this particular pattern frequently. Getting into a trade of this kind is sort of like preparing to ride a bull for a wild 8 second ride climbing on it's back in the chute with your rosined up glove, a nice tight rope. Giving the nod to the cinch man seeing the gate swing open, the bull gives a couple good bucks and then like a werewolf, turns into a great big enraged bear. and there you are stuck on the sucker's back. I hope you can understand the rodeo reference. Anyways if you are able to articulate in a future video or here how to tell the differences either in the candles ahead of time or in the middle of the trade I would be eternally grateful to you. (I'm sure lots of other folks would be too.)
to clarify what I mean by a 2 man saw, saw tooth pattern I mean a string of 2-5 bars going up and 2-5 bars down. where no candle including wick or tail is longer than 5 ticks each. and can be up to 30-60 bars long. I usually trade, doing paper trading, still on the one minute charts. I'm trying to get consistent on paper first before going to real money.
In fact you may have answered my question in your talk is this specifically the time to look for that kicker signal of a sudden gap potentially between the bars? Where the gap might be par or to the reversal of the trend would indicate that kicker signal for a sudden reversal but if it gaps in the direction of the trend then it's more certainly safe?
Hello Mr. Bigalow! I am curious as to what you set your stochastic indicator to?
Joseph Jackson he sets it at 12 3 3
Mr Bigalow your missed
hello Mr. Bigalow! I wonder if your trading concept can transfer over into the forex market; do you think so?
do you watch level 2 or are you more focused on chart level 2 isn't accurate many times and I enjoy how you teach
very often Steven I see something like a J hook pattern immediately after a fry pan or what I often call a 2 man saw pattern after the fairly flat short up trends of 2-5 bars up and down of less than 5 ticks each. Anyways about half of the time the J hook pattern is immediately followed by a rebound that goes all the way back down to the original price range and often even further than the original tight price range pattern. Is this a Japanese candle stick pattern that is named and is there an indicator during the bleeding edge of it occurring as that first candle transforms into the second (maybe a range of scarce seconds) where you can tell if this is going to continue to range up, or if that sucker is going to rip saw you and change direction literally in a single moment? I've been watching Crude Oil particularly for months now and have seen this particular pattern frequently.
Getting into a trade of this kind is sort of like preparing to ride a bull for a wild 8 second ride climbing on it's back in the chute with your rosined up glove, a nice tight rope. Giving the nod to the cinch man seeing the gate swing open, the bull gives a couple good bucks and then like a werewolf, turns into a great big enraged bear. and there you are stuck on the sucker's back.
I hope you can understand the rodeo reference.
Anyways if you are able to articulate in a future video or here how to tell the differences either in the candles ahead of time or in the middle of the trade I would be eternally grateful to you. (I'm sure lots of other folks would be too.)
to clarify what I mean by a 2 man saw, saw tooth pattern I mean a string of 2-5 bars going up and 2-5 bars down. where no candle including wick or tail is longer than 5 ticks each. and can be up to 30-60 bars long. I usually trade, doing paper trading, still on the one minute charts. I'm trying to get consistent on paper first before going to real money.
In fact you may have answered my question in your talk is this specifically the time to look for that kicker signal of a sudden gap potentially between the bars? Where the gap might be par or to the reversal of the trend would indicate that kicker signal for a sudden reversal but if it gaps in the direction of the trend then it's more certainly safe?