Hello everyone, this is Dan Gramza and welcome to Gramza Market
Studies Technical Tip.
Well today we're going to be talking about selling rallies. Now what
does it mean when people say, "sell the rally" when you want to
get into a trade? Or they sell a pull back? Or you hear things like,
"The Trend Is Your Friend?"
Well we're going to explore this here in just a minute. I want to show
you the technique and I want to show you some examples of how
these markets behave in those settings.
I want to show you an example, but before I can talk to you too much
about this example I need to define a few things for you. First candles...
the approach that I use with Japanese candle charts, and that is what
you're looking at here, is not the standard approach. So from my
perspective,
I don't focus on patterns, I focus on behavior. If we see a green candle
that represents buying, that means that the closing price is higher than
the open. If you see a red box that represents selling it means that the
closing price is below that opening price. If you see a white line on top
that's called a shadow, I think that represents selling. If you see a
white
line on the bottom that represents buying. Now with that in mind, the
sizes
of the bodies and the shadows tell us about the degree of buying or
selling.
Now let's talk about this set-up here...
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