<Smart_trade> Good morning everybody

<amar_candlestick> Good Morning ST DA

<angelkhair> Very Good Morning ST Da
<Cyprezz> Good Morning Everyone
<Passion Trader> GM ST DA
<angelkhair> GM Cyprezz
<Smart_trade> hello amar,angel
<Passion Trader> gm cyprezz
<actuaryinmaking> Good Morning everyone
<Cyprezz> GM Da, angelkhair, passion trader..
<alliswell> Good Morning Every one
<Passion Trader> gm actuary
<Narahari> GM......EveryOne...
<alliswell> Good morning ST da
<angelkhair> GM NishaJi
<alliswell> GM Nisha mam
<kintupatel9> GM AL
<alliswell>
<kintupatel9> *ALL
<alliswell> GM Kintu
<amar_candlestick> Very Good Morning HARI - Alliswell - Cypress to All TSF
<angelkhair> Haha GM ALL
<alliswell> GM Amar
<Rajesh Singh> GM Everyone
<actuaryinmaking> gm Gangan, Angel
<circlezee> gm everyone
<alliswell> GM Zee
<kintupatel9> GM AIW
<tryingtotrade> GM st da, Passion trader, amar, angel, balaji, cyprezz, nisha, gagan,
narhari, kintu, rajesh, circle
<alliswell> GM amit
<flowtrader> Morning everyone
<xyz123> GM All
<angelkhair> GM Circle T2T
<alliswell> hi xyz saw u after a long time
<xyz123> yes
<circlezee> GM alliswell,T2T,angel
<xyz123> ut mostly I am a silent watcher
<xyz123> got some today to mattend the class
<Smart_trade> welcome xyz.....
<Manojkch26> GM Everyone
<alliswell> st da i have a query
<Smart_trade> we will soon have lot more initiatives for imparting education on
various aspects of trading
<alliswell> may i ask b4 the start of class
<kabira> gm to all
<angelkhair> GM Manoj ji
<Smart_trade> AIW...is it is a short querry ask....otherwise afterwords....
<kamalkishoreit> gud morning everyone
<alliswell> can we take BO BD failure trade in swift (because in this case MA will never favour
the trade
<alliswell> gm kk
<ramlaa> GM Everyone
<amar_candlestick> GM KK RAMLAA
<kintupatel9> One more great effort in series of it.. Thanks ST da
<angelkhair> GM kamal
<GVRS> Good morning everyone
<Smart_trade> AIW....take such trades if there is a BO/BD failure on larger TFs
too...or after a suatained move.....
<Smart_trade> GM GVRS....
<alliswell> ok thanks st da
<alliswell> gm gvrs
<balaji11> Gm ST, Manoji and All
<Smart_trade> GV is one of the best guy we have on candlestick patterns
<pratapvb> GM everyone
<Smart_trade> I am sure all will benefit by his knowledge and presentation
<GVRS> Shall we start...
<GVRS> I have learnt these things from you seniors.
<GVRS> This class is helpful to those who are new to candlestick patterns...
<GVRS> and a revision for me.
<GVRS> The experienced ones, please bear with me.
<GVRS> Here is a basic drawing of candlestick.
<tryingtotrade>
<GVRS> pl. wait uploading thechart.
<GVRS> Both the bars and candlesticks carry the same information
<GVRS> But wiht candlesticks you can easily figure out what had happend during that period
<GVRS> Look at this comparision chart.
<GVRS> http://i52.tinypic.com/14j29sx.png
<GVRS> Let us move on to candlestick patterns.
<GVRS> A small note before that.
<GVRS> There may be some differences or contradictions with the descriptions in TA books
and what is being given here....
<GVRS> All these reversal patterns do not necessarily work as described in some literature.
<GVRS> A lot depends on where these form in the context of on going trend.
<GVRS> First one... Doji.. very familiar one to every one.
<GVRS> When a candle's opening and closing price is same or nearly same....
<GVRS> we call that candle a doji.
<GVRS> It is a single candlestick pattern.
<GVRS> This pattern reflects indecision
<GVRS> This could be a pause before the price moves again.
<GVRS> a resting point.
<GVRS> and easiest one to find on the chart.
<GVRS> There are four variants of doji.
<GVRS> a. long legged doji
<GVRS> b. short ranged doji.
<GVRS> c. gravestone doji
<GVRS> d. dragonfly doji.
<GVRS> I will upload the drawing... pl. wait
<GVRS> http://i54.tinypic.com/x258k8.jpg

<GVRS> Long legged doji: This is a doji with longer wicks on either side.
<GVRS> We see this formation when volatility is high during the day with huge price range,
<GVRS> but the fight between bulls and bears ends at or near
<GVRS> the opening price.
<GVRS> Short ranged doji: This is with small wicks on either side....
<GVRS> A small range day.
<GVRS> price is taking rest before moving again.
<GVRS> Gravestone doji: This has along upper wick with the price opens and closes at the low
of the day.
<GVRS> ie., no wick at the bottom
<GVRS> Dragonfly doji: This is opposite to gravestone doji interms of price action...
<GVRS> long lowe wick with open and close at the high of the day.
<GVRS> and no wick at the top.
<GVRS> All these dojis are pauses before the trend continues...
<GVRS> or reverses
<GVRS> depending on the preceding move and its strength.
<actuaryinmaking> everyone clear so far ?
<GVRS> The context is important.
<alliswell> whether there is some special significance of gravestone and dragonfly doji
<GVRS> Can some one upload a chart with dojis... new members....
<alliswell> for me they are weak reversal signs
<GVRS> AIW, most of the time dojis are pauses in the move.
<GVRS> even though dragonfly looks to be reversing the prices...
<rukmesh123> I am uploading it ...
<GVRS> and we should never judge the reversal on candlestick patterns alone.
<balaji11> http://www.forexrealm.com/technical-...tterns-01.html

<flowtrader> 25 feb on daily charts is doji... uploading charts

<GVRS> there must be some additional information in suport of these patterns...
<alliswell> http://tinypic.com/r/andb0g/7
<Rajesh Singh> http://i55.tinypic.com/kch3i8.png

<GVRS> like other chart patterns, trend lines, previous support and resistance etc.
<alliswell> infact there are two more dojis in extreme left see candle no 3 and 4
<Rajesh Singh> so we will not treat doji in isolation
<kamalkishoreit> candlestick patterns http://en.wikipedia.org/wiki/Doji
<rukmesh123> http://i56.tinypic.com/dywz7r.jpg
<GVRS> ok, thanks...
<GVRS> I will post all the four dojis now.
<rukmesh123> GVRS, can you please check if the 2 doji's are marked correctly in my
link?
<GVRS> http://i54.tinypic.com/6tfdp3.jpg
<actuaryinmaking> All - please refrain from posting from other sites for now...
<GVRS> yes Rajesh.
<Rajesh Singh> ok, tnx
<actuaryinmaking> Let's all focus on what is being covered here and lets work out with live
examples from our Charts as class progesses...
<actuaryinmaking> Just to avoid confusions...thx !
<alliswell>
<GVRS> ok, Rukmesh
<rukmesh123> thanks GVRS
<GVRS> move on to the next one??
<rukmesh123> I have one question
<rukmesh123> does color of these doji's matter ?
<GVRS> Doji does not have colour... opening and closing is same.
<rukmesh123> I mean if we are in uptrend and then we get green doji ... does it signify
anything or it should be red doji to signigy reversal?
<GVRS> Evern if there is a small difference in open and close, it is negligible
<rukmesh123> I mean if the opening / close is very near to same .. the body will be very
small in that case ...
<alliswell> open andclose are same so there is no body of doji rukmesh. thats why no question
of colour
<rukmesh123> ok ... got it GVRS
<GVRS> There is no difference in its effect.
<rukmesh123> thanks GVRS
<GVRS> next one. Spinning tops.
<GVRS> This one is also a single candle formation with small body and wicks on either side.
<angelkhair> What does this four doji signifies respect to trend?
<GVRS> Here, size of the wick is not important.
<GVRS> nor its colour.
<angelkhair> what should we assume when either one of four is formed?
<GVRS> Just a little bigger body than doji... but the effect is same... indecision of the bulls and
bears...
<GVRS> The price is expected to resume its move
<GVRS> in line with the preceding bars.
<GVRS> tiny pic is having some problem it seems...
<GVRS> trying to upload the drawing.
<GVRS> http://i51.tinypic.com/2jezonb.png

<GVRS> is it clear?
<rameshgrk> yes GVRS
<alliswell> yes but its very subjective, for one individual its spinning top and for other its not
<angelkhair> GVRSji may I ask my questions?
<tryingtotrade> yes
<gurprB2J> yes
<GVRS> @angelkhair: We will have another class related to the use of these patterns
<GVRS> Then we will take up questions related to that.
<angelkhair> Ok Thanks, I thought we have class for both
<GVRS> First let us bocome familiar with the patterns...
<GVRS> Try to spot them on charts and post in the forum.
<angelkhair> Ok
<GVRS> You can ask questions regarding pattern description.. if you do not understand..
<angelkhair> Ok
<GVRS> Next one Hammer.
<GVRS> Hammer is a candle with small real body at the upper range and a long tail at the
bottom
<rukmesh123> GVRS .... can you please confirm if the marked candle is spinning top in
this chart .. http://i55.tinypic.com/14o5fzm.jpg
<GVRS> Hammer normally doesn't have a wick at the top...
<GVRS> but a tiny one is permissible.
<alliswell> yeas
<angelkhair> GVRSji please post chart of Spinning Top
<GVRS> Rukmesh, looks like a doji.
<alliswell> 04/06/2011 10:17 <GVRS> http://i51.tinypic.com/2jezonb.png
<rukmesh123> but that candle has small body ...
<angelkhair> GVRS ji from rukmesh chart 2nd may day high bar is sppining top?
<GVRS> But a tiny body... rukmesh. slightly bigger one is necessary
<Passion Trader> rumesh in open and close small diff is acceptable in doji
<rukmesh123> ohh ... so we can have small to none body in doji's
<angelkhair> or the word "TOP" in name of spining top dont signifies it should be on top?
<alliswell> thisis very subjective i will say but it does not matter if its a doji or spinnig top the
effect is same
<rukmesh123> and candle with slightly bigger body will be called as spinning top
<GVRS> Just a few mins. friends. tinypic is giving problems.
<rukmesh123> Angel.. that's good point ... about "TOP" ... did not thought off
<alliswell> yes and effect is same
<rukmesh123> got you .. aiw .. thanks
<alliswell> top is basically lattu
<Passion Trader> rumesh small diff untill it looks spinning top
<alliswell> hindi speaking ppl should be knowing it
<ka.ramakrishnan> gud mrng everyone, i'm new to this forum
<alliswell> so as lattu can go any where while spinning here too, we have indicision
<rukmesh123> sure PT .. now it's clear ...also, lattu from aiw is good explaination
<angelkhair> GVRSji from rukmesh chart 2nd May, 2nd bar is spinning top?
<vimalefx> welcome ramakrishnanjii
<Rajesh Singh> http://img52.imageshack.us/img52/8356/63406438.png Uploaded with
ImageShack.us
<alliswell> please google it :
<alliswell> image: spinning top
<Rajesh Singh> does these qualifies as ST
<Passion Trader> pls say it in english AIW lattu????
<alliswell> means TOP
<ka.ramakrishnan> thanx vimal
<alliswell> just google image: spinning top
<GVRS> Hammer: http://i53.tinypic.com/30wat09.png

<alliswell> http://accesstosharedknowledgeandpra...if?w=300&h=241
<johnvar> no pratap it upload pic also
<johnvar> very easy upload
<rameshgrk> john
<angelkhair>
<vimalefx>
<GVRS> Hammer...
<GVRS> Hammer is more potent when there are multiple bearish bars preceding it
<johnvar> @rameshgrk: http://www.tradersaintforum.com/foru...read.php?t=903
<GVRS> or when it forms immediately after breaking the pivot lows in downtrend.
<GVRS> A long range hammer has more power and an ideal one for reversing the trend.
<rameshgrk> thnx john
<vimalefx> thax johnvar
<GVRS> A hammer followed by a bearish bar that closes above the lows of hammer
<GVRS> is more poweful.
<angelkhair> http://i53.tinypic.com/2qvxmr8.png
<GVRS> nice Anglelkhair.
<GVRS> Usually the reversal happens immediately after the pattern formation.
<GVRS> A bullish close above hammer confirms the trend change.
<GVRS> The strength of hammer is weakened when it is followed by multiple hammers one
after the other
<GVRS> it means, the bearish trend is too strong to get reversed.
<GVRS> and it is likely to continues after taking the low of the hammer.
<GVRS> This is same case with bearish WRB.
<GVRS> The WRB restricts the power of hammer
<rukmesh123> "<GVRS> Usually the reversal happens immediately after the pattern
formation. " --> Should we wait for the confirmation as next bar before taking position?
<GVRS> Is that clear... number of points to remember when trading with hammer.
<angelkhair> clear
<rukmesh123> yes
<rameshgrk> yes
<403.forbidden> Good morning ! ..no power...
<GVRS> Rukmesh, yes, normally confirmation is necessary.... But again different scenarios
require differenct actions.
<rukmesh123> thanks GVRS ...
<GVRS> You will come across these things when you are trading intraday methods.
<GVRS> Infact, some of these patterns have been incorporated in our trading methods.
<rukmesh123> specially in Ambush and Swift
<GVRS> You will know these things as you progress in your trading.
<GVRS> It is difficult to explain all of those scenarios hear.
<rukmesh123> sure GVRS ... thanks
<GVRS> For now focuss on pattern definition and finding them on charts.
<GVRS> I think I am not disappointing you...
<rukmesh123> not at all sir ...
<rukmesh123> it's very helpful
<GVRS> Here is the chart: http://i53.tinypic.com/148kgaq.jpg

<Passion Trader> http://i51.tinypic.com/28sms74.png

<Passion Trader> GVRSji what kind of candle is this can we consider this as hammer
<rukmesh123> GVRS .. in your chart 06-May . LOD will be taken as hammer or
Gragonfly doji ?
<GVRS> @Passion Trader: not hammers.... try again
<GVRS> It's dragon fly doji, Rukmesh... Just go by the visual apperance.
<GVRS> The bottom wick should be atleast 2-3 times bigger than the body.
<rukmesh123> yes ... visual appearance of the candles says everything
<GVRS> But do not go by maths and formulas.
<GVRS> One more point:
<GVRS> The colour of the candle is not important. But bullish close has more potential to
reverse.
<GVRS> Any questions on that?
<angelkhair> no
<rukmesh123> you mean .. in downtrend .if we get green hammer .... there are more
chances of reversal?
<GVRS> Yes, but confirmation is necessary.
<rukmesh123> got you ...
<GVRS> Next one Hanging man:
<Passion Trader> clear gvrs thanks
<GVRS> look alike of hammer to deceive us all....
<GVRS> Hanging man looks like exactly the same as hammer.
<rider.royal> GVRS sir, is the top most bar on 10/5 in chart given by you is hammer ?
<GVRS> I am talking about the shape of the candle.... patternswise it is opposite
<rider.royal> one with vlack coloured body with bullish body next bar
<GVRS> No rider, it is doji.
<GVRS> Sorry Rider, looking at the top most bar of the chart.
<rider.royal> ok sir, thnks
<rukmesh123> it has a big body ... does not look like doji ....
<GVRS> But that is not a hammer.
<GVRS> ok, shall I move on...
<rukmesh123> yes ... it 's not hammer as well
<rukmesh123> sure
<tryingtotrade> yes
<angelkhair> Its inverted hammer
<GVRS> The difference between Hammer and hanging man is where you find them on the
chart within the context of the trend.
<kabira> yes
<GVRS> Do not confuse with the shape of the candle.
<amar_candlestick> Gvrs charts of biocon weekly 27-5-11 is it hammer ?
<GVRS> Each candlestick pattern has criteria to validate it.
<GVRS> Amar, I do not have those charts with me now.
<GVRS> We will open a thread where you can post charts with your understanding
<amar_candlestick> ya
<kabira> that will be great, we can post our queries there
<GVRS> let us go back to hanging man..
<GVRS> Hanging man is look alike of hammer to deceive us all....
<GVRS> I am talking about the shape of the candle.... patternswise it is opposite
<GVRS> The difference between Hammer and hanging man is where you find them on the
chart within the context of the trend.
<GVRS> Do not confuse with the shape of the candle.
<GVRS> Each candlestick pattern has criteria to validate it.
<GVRS> Hanging man has a small real body at the upper range
<GVRS> with very small or no wick at the top and a long bottom.
<GVRS> It is a bearish signal forms after an uptrend.
<balaji11> Normally is Hanging Man is bearish and Hammer is bullish
<GVRS> Colour of the body is not important and again negative close has more bearish
implications.
<angelkhair> http://i51.tinypic.com/a4vtc1.png

<balaji11> Hanging man usually appears at top and Hammer at bottom

<GVRS> Typically lower wick should be 2/3rd to 3/4 of the candle's range.
<amar_candlestick> http://tinypic.com/view.php?pic=2uq26wh&s=7
<balaji11> Is it right GVRS
<kabira> GVRS sir, do hammer and inverted hammer side by side weaken trend?
<amar_candlestick> see gvrs biocon weekly charts
<GVRS> Just hold on guys... let me complete one pattern at a time.
<GVRS> Hanging man after a bullish WRB preceded by vertical move negates the trend.
<GVRS> A long range hanging man is more powerful.
<GVRS> After multiple bullish bars a hanging man followed by dojis or another hangingman is
more bearish.
<GVRS> This price action says it is unable to move past the high and is likely to collapse.
<GVRS> Drawing: http://i53.tinypic.com/2ajbcrq.png
<GVRS> Even though the hanging man with positive close looks like a bullish one...
<GVRS> the indication is that at some point of time sellers took control...
<GVRS> that inturn says the trend is beginning to lose its strength.
<GVRS> http://i56.tinypic.com/1z23p5w.png

<GVRS> But is this a revesal pattern all the time?

<GVRS> No.
<rukmesh123> are we talking about shooting star or hanging man?
<GVRS> There are instances where the price moves further without reversing.
<rukmesh123> pic you posted is of shooting star
<GVRS> yes selected a wrong one.. will post again now
<GVRS> Hanging man: http://i53.tinypic.com/15g6y42.png

<GVRS> Hanging man immediately after a pivot break is of no value

<GVRS> and the price will continue to move.
<GVRS> Before we move on to next one... any doubts pl. ask
<angelkhair> GVRS ji is this hanging man? http://i51.tinypic.com/a4vtc1.png
<Rajesh Singh> same with WRB?
<gurprB2J> gvrs hanging man bar should at same hight of procesiding bar?
<gurprB2J> or it does not matter
<GVRS> Not necessarily Gurpr
<gurprB2J> ok thanks
<GVRS> Angel, no.
<angelkhair> Ok, thanks
<GVRS> Ok, next one...
<GVRS> Inverted Hammer:
<rukmesh123> GVRS . in the chart posted by Angel ... that bar looks like hanging man ...
topbody with lower long wicks ...?
<GVRS> A small range body at the bottom with atleast 2-3 times longer upper tail
<rukmesh123> or since it is not formed at the top of the trend .. it's not hanging man?
<GVRS> and a very small or no wick at the bottom.
<GVRS> Rukmesh that candle formed after another bearish reversal signal. We will discuss it
later.
<rukmesh123> sure GVRS
<GVRS> White candle has bullish implications even though the colour is not very important
factor.
<GVRS> The formation of this pattern after multiple bearish bars is likely to reverse the trend.
<GVRS> But in many cases it looks like a pause in the down trend especially when formed
after WRBs
<GVRS> Even the wide ranged inverted hammer after a bearish WRB has no effect of reversal.
<rukmesh123> is this inverted hammer - http://i53.tinypic.com/aazrpz.jpg
<GVRS> It doesn't mean it will not reverse the trend, but less chances of reversing and more
likely to continue the move
<GVRS> http://i52.tinypic.com/30j43yf.jpg

<GVRS> and the chart: http://i52.tinypic.com/2ah7jw5.png

<GVRS> Rukmesh, patternwise it needs to fulfil the criteria. It formed after a doji.
<rukmesh123> ohh... got it ..let me find another
<GVRS> nice..
<GVRS> ok? let us go to next pattern
<alliswell> yes
<rukmesh123> sure
<GVRS> Shooting star:
<GVRS> This is mirror image of hammer pattern... upside down.
<GVRS> Forms after multiple up bars. Again a small body at lower range of the candle
<GVRS> with atleast 2-3 times longer wick at the top.
<GVRS> A very small or no wick at the bottom.
<GVRS> Colour of the candle is not important... but
<GVRS> bearish one is better.
<GVRS> http://i53.tinypic.com/2wfj0go.jpg
<GVRS> Even if we get a bullish close within the upper wick, it is still bearish.
<GVRS> http://i56.tinypic.com/1z23p5w.png

<GVRS> Observe the bullish close below the wick high... still bearish
<angelkhair> Yes
<rider.royal> understood
<GVRS> Again, It is not always bearish. The context is important.
<GVRS> I will show you another example chart where the trend continued after forming
shooting star.
<GVRS> http://i54.tinypic.com/723n5z.png
<rukmesh123> basically, we should always wait for next candle for confirmation of trend
reversal ..correct?
<GVRS> Rukmesh, again it depends on the method you are trading.
<GVRS> What will you do if this pattern forms after uptrend with a gap up?
<GVRS> You must be knowing it if you are trading flow30
<GVRS> ok, let us concentrate on the patterns for now.
<rukmesh123> it means the uptrend is in question now .. will wait for the next candle for
confirmation
<rukmesh123> am i correct?
<GVRS> Rukmesh, just go through the flow 30 method once again.
<GVRS> Next pattern..
<GVRS> Bullish belthold:
<rukmesh123> sure GVRS
<GVRS> After multiple down bars price gaps down to an area of support and closes strong
near it's highs.
<GVRS> Close should be higher than open and with a large body.
<GVRS> it means a huge gap down and moves in the opposite direction.
<GVRS> It need not be a WRB and not a spinning top too. just a good bodied candle.
<GVRS> sorry friends, a small gap. let us continue. we have just another two patterns for
today.
<ramlaa> ok
<rukmesh123> are we still on ? ..unable to see any new msg for past 8mins
<rukmesh123> hmmm... everyone is here
<403.forbidden> ok
<GVRS> Bullish belt hold is a single candlestick pattern. It's close should be bellow the last
bearish candles close.
<ramlaa>
<GVRS> So, there is still a gap between the close of the candles.
<GVRS> This is not a very strong reversal pattern.
<GVRS> It's strength is to the extent of reversing decline within an uptrend.
<GVRS> http://i56.tinypic.com/bjemgn.png

<GVRS> chart: http://i52.tinypic.com/11awvug.png

<tryingtotrade> chart by gv - http://i55.tinypic.com/2dlowh3.jpg

<GVRS> next one: Bearish belt hold.
<GVRS> This is opposite to bullish belthold.
<GVRS> A gap up into resistance area after multiple bullish bars
<GVRS> and closes strong near it's lows....
<GVRS> but away from previous candle's close.
<GVRS> a big bodied candle with opposite colour.
<GVRS> http://i56.tinypic.com/osh0ew.png

<GVRS> Unlike its bullish counterpart this is strong reversal signal..

<GVRS> and can reverse the uptrend.
<GVRS> http://i54.tinypic.com/3354ikx.jpg

<GVRS> With this, we complete single candlestick patterns.

<GVRS> Any queries on the last two patterns?
<GVRS> Note the difference in the strength of these two patterns. Both are belt holds and
same criteria...
<Rajesh Singh> can we take a call to reverse based on bearish belt hold alone, GVRS
<vimalefx> nice
<GVRS> But bearish one is stronger than bullish reversal pattern.
<ramlaa> no queries from my side
<GVRS> Rajesh, again it is related to trading method.
<Rajesh Singh> ok
<rukmesh123> i am also clear with these candle patterns ... just need to spend more time
on charts for better understanding of these patterns
<GVRS> But the implication is bearishness... where to enter the trade depends on trading
method and timeframes.
<GVRS> If no questions... we will wind up for today...
<tryingtotrade> Thanks GVRS for explaining the patterns & context in which to use
them
<GVRS> We will have another class on the remaining candlestick patterns.
<rukmesh123> thanks GVRS .... it was very nice session easy to understand
<Rajesh Singh> tnx a lot, GVRS
<Manojkch26> Thanks a lot GVRS, ST Sir for this Wonderful Session
<Ashi> GVRS great effort put in from your end
<vimalefx> great session
<Ashi> Thks for the charts too..
<kamalkishoreit> thanx a lot gvrs sir
<gurprB2J> ok gvrs thanks a lot for your time and effort
<tryingtotrade> We need a session on how to use these patterns in trading
<ramlaa> Thanks GVRS, great session
<GVRS> we will start a new thread and please try to post charts with these patterns.
<angelkhair> Thanks a lot GVRS ji
<GVRS> Use only daily charts where gap is involved in the pattern.
<touchraj16> agree with tryingtotrade
<GVRS> Most welcome everyone and also thanks for bearing with me.
<rukmesh123> GVRS ... one question before we close this session
<vimalefx>
<403.forbidden> Thank you very much GVRS Sir ..
<GVRS> See you all on Monday... bye...
<rukmesh123> is there something like if these candlestick patterns are formed on bigger
timeframe say more than 30 mins will be more effective or any TF will do for these
patterns ...
<touchraj16> when will be the next class abt combination of candles?
<xyz123> Thank you so much GVRS
<Manojkch26> Yes rukmesh.. On hifger TF.. these are more effective
<rukmesh123> will these patterns be effective on 5min as well or we need to have higher
TF for these patterns to be effective?
<Manojkch26> *higher
<tryingtotrade> bye
<rukmesh123> thanks Manoj .. that makes sense
<GVRS> Rukmesh, use them only on higher timeframs till you are sure of the patterns and its
+ and - es.
<GVRS> Otherwise you will end up reversing and re-reversing very oftern.
<rukmesh123> got it GVRS .. thanks a lot for you time and effort for this session
<GVRS> bye Manoj, Amit...
<SacredOcean> thanks GVRS,
<Manojkch26> Bye GV, ST Sir and everyone..
<Manojkch26> Have a great weekend
<angelkhair> Bye GVRS ji Manoj Ji
<rukmesh123> bye
<touchraj16> thanks a lot GVRS
<kintupatel9> Thanks GV
<balaji11> Thanks GVR
<balaji11> Bye All
<darkstar> hi
<darkstar> to all
<alliswell> bye everyone
<angelkhair> Thanks a lot ST Da for arranging this class!
<Smart_trade> Thanks GVRS for this wonderful session
<amar_candlestick> thnks st da