Dissecting a Candlestick

Dissecting a Candlestick

Changing
time frames when viewing candlestick patterns is useful tool when
looking for patterns leading up to good trading opportunities.

For example, consider the Bullish Harami Pattern that is manifested on the Daily time frame chart (Figure 26).

The
same stock plotted on a 15 min time frame chart shows that the stock is
actually setting up for a Bullish Reversal Consolidation pattern.

Using the Daily chart and the 15 min chart together make it easier to find possible trade opportunities.

For
example, the trader can scan for Harami setups on the Daily chart, and
then pull up a 15 min chart to confirm the stock is experiencing a
consolidation pattern preparing for a break out.






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