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Profiting from Technical Analysis and Candlestick Indicators: Powerful Methods for Accurately Timing Trades by Michael C. Thomsett

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6. Combining West and East—Candlesticks and the Technical Signs

The process of building up to confirmation for any form of signals includes a necessary set of building blocks. In coming chapters, a variety of combinations (candlesticks, Western price patterns, volume indicators, and momentum oscillators) will be documented. All of this will be provided in the context of relative correlation—the likelihood of an expected outcome based on (a) strength and speed of the current trend, (b) correct placement of the indicator (bullish reversal after a bear trend, or bearish reversal after a bull trend), and (c) proximity to resistance or support.

This chapter begins the process of identifying confirmation with a series of comparisons between candlestick ...

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