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17 Thoughts to “Candlestick Charting – Vol 15 – Evening Star”

  1. YourTradingCoach

    Although many people trade price / volume analysis very successfully, it’s not something that’s ever really fit well with my style. I therefore make very little reference to volume at all.
    In trading something like an Evening Star, and incorporating volume, you’d be looking for the same as with any reversal pattern. Either decreasing volume as price rallied to resistance, and incr vol on the break back down, or a blow-off (climactic) volume at the highs.

  2. YourTradingCoach

    Hi abdulaibee,
    Glad you enjoyed the candlestick video series.
    The open is simply the first price traded in that candle period (or first price bid for forex and CFDs). The close is the last price traded (or bid for forex/CFDs) for the candle period. The candle period is whatever you have set your charts to. eg. five min charts – each candle represents 5 mins, from open price to close price. On a daily chart, each candle represents one day of transactions, from first price to last.

  3. Harsh Shah

    Firstly nice videos..Hope that this patterns work in Indian Markets as well..

    Well @6.38 the two candles look like a bearish engulfment won’t it be a signal for bearish reversal pattern??

  4. Harsh Shah

    @5.14 the two candles at initial support level..the one red and the green..wont it signal a bullish harami??? waiting for your reply

  5. souldrop1000

    5:18 doesn’t the second and first candle of a evening star forms a harami pattern in market likes forex? whats the difference

  6. YourTradingCoach

    Hi souldrop1000,
    The definition involves a gap up to the second candle. In continuous markets such as forex though this is not usually possible. As such, the first two candles of an evening star may form a harami pattern. Essentially then, trading off the evening star is more conservative as the market has provided additional confirmation of the change of sentiment.

  7. souldrop1000

    Hello sir thank you. i had another query about the harami pattern. The second candle(“Including the high and low of the second candle”) of the harami pattern does it have to be inside the “real body” of the first candle or being inside of the high and low of the first candle will do ?

  8. YourTradingCoach

    souldrop1000, the technical definition is that the second real body is contained within the first real body. However you should not get too caught up with the strict definitions. What is MUCH more important is the sentiment change that is indicated by the pattern, and the context within which it is occurring. For a written copy of “definitions” and example charts, see the poster and quick reference guide downloadable at my website ebook page (no cost).

  9. Don John

    I have learnt a lot from your videos, pls explain how to trade in daily support & resistance level

    1. YourTradingCoach

      +Don John Hi Don, Thanks! I’m pleased you’ve found value in the videos. It’s been several years since I did these; and I don’t have one providing any detail regarding how I trade at S/R levels. But you’ll find a ton of info at my site… . Perhaps check the tag list on the RHS of the blog page for specific topics. Or the site map page for a complete list of all the articles.

    2. Don John

      Yes mate I will definitely check your site. Keep up the good work!

  10. Ade Abasanji

    Excellent. Pin bars are powerful. They tell a lot about sentiment from major support and resistance.

    1. daniel mwangi

      I agree with you 100%

  11. Pro Dota Clip

    im new and 2019 then i found this video pasted in 2008 OMG thanks for sharing this

    1. YourTradingCoach

      Thanks Pro Dota Clip! I’m glad you got value from the old video series. All the best of luck with your trading.

  12. Dan Babani

    Im new to trading and finding your videos absolutely beneficial
    Its very professionally explained
    God bless you my brother

    1. YourTradingCoach

      Thank you Dan. Much appreciated. I wish you all the best of luck in the markets.

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