Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

james_gsx

Doji or Evening star?

Recommended Posts

Would you consider this a doji or an evening star? Or does it really even matter as long as you read that theres a tug-of-war against resistance confirmed buy a sell off?

 

attachment.php?attachmentid=4665&stc=1&d=1199599028

 

attachment.php?attachmentid=4666&stc=1&d=1199599028

 

Thanks...

dojieveningstar.jpg.7484191281241f5883c50ba2a9974648.jpg

cldojieveningstar.thumb.jpg.5bd4344cf5b76c786c1b2058eb45857e.jpg

Share this post


Link to post
Share on other sites

James - for me, it doesn't really matter as it is a matter of how aggressive you want to be. In other words, you could consider a short on the doji-type candle or you can wait for additional confirmation and then get another reason to short. Obviously in hindsight you would want to be short on the doji, but additional confirmation is not a bad thing either.

 

Your chart actually brings up a few possible trade scenarios:

 

attachment.php?attachmentid=4667&stc=1&d=1199638364

 

Here we see:

 

1) Could short on the doji (#1).

2) Could short on the bearish confirmation after the doji (#2).

 

Now, a trade management idea here could be to enter the trade on #1 with a % of available contracts and then add to a winning position based on #2. Just an idea.

 

===================================================

 

attachment.php?attachmentid=4668&stc=1&d=1199638364

 

Taking a look at the daily James and I think we can see some overhead resistance here. Obviously $100.00 even is a MONSTER psychological number. So had you been watching this chart, I'm sure you can see a number of possible shorting opportunities when price approaches the 100.00 level. Sooner or later this level will break, but as of now, I see about 5 trades or so when price hits the 100.00 level.

5aa70e3052d23_tlcl.png.0e2a8116990f90a053c0202cb4ffa63a.png

5aa70e3058011_tlcl2.png.347517587b44de638066c0271c505714.png

Share this post


Link to post
Share on other sites

I think the newbie trade right here would be to go long in hopes of it breaking $100. But you are right, with proper analysis of the chart there are several short plays around $100. I think a good risk/reward trade would be to short and have two possible targets, the first at $95 and the second at $90. The stop would be simple, just above $100.

Share this post


Link to post
Share on other sites

I would cover here since 95 seems to be a strong support area, then wait to go long at $90 or a close above $100. I know it sounds like I'm leaving a lot on the table by saying I would buy at $90 but with the volatility of oil I'd rather keep my profits and wait for the next setup.

Share this post


Link to post
Share on other sites
I would cover here since 95 seems to be a strong support area, then wait to go long at $90 or a close above $100. I know it sounds like I'm leaving a lot on the table by saying I would buy at $90 but with the volatility of oil I'd rather keep my profits and wait for the next setup.

 

So is this being done on a fake, after the fact account or is this what you did in yours? Sorry if that's too pushy, but you are doing well here James and need to make the money that is right there in front of you.

 

It's like waiting for a big hand to play on a high stakes no-limit cash poker table and folding them... You waited for the rockets and let it go b/c you might lose...

Share this post


Link to post
Share on other sites
Fake account, not sure if my account can handle the volatility of CL.

 

That's cool.

 

Remember there are other ways to play oil - an ETF perhaps.

 

Key here is doing it with real money. Even just one share for the sake of doing it. I know it doesn't seem like much, but well worth it.

Share this post


Link to post
Share on other sites

I will make sure to find the ETF that follows oil and I'll start taking those trades. I used to trade a lot, several hundred trades per quarter. When I switched over to futures I just sort of stopped... But at least I'm doing it again :cool:

Share this post


Link to post
Share on other sites
I will make sure to find the ETF that follows oil and I'll start taking those trades. I used to trade a lot, several hundred trades per quarter. When I switched over to futures I just sort of stopped... But at least I'm doing it again :cool:

 

You just have to get back in the game. We've all been there.

Share this post


Link to post
Share on other sites

I didn't catch the move (was watching other markets) so this is monday morning quarterbacking on my part but another way to look at brownsfan's triple top would be to use Trader Vic 2B pattern where after a market breaks out to new higher high then fails to follow through go short on close below low of HH bar.

Share this post


Link to post
Share on other sites

Trick question right?

 

I believe that what you have there my friend is a Bullish harami star.

 

For a harami star the body of the Doji has to be inside of the body of the leading candle but the shadow does not have to be.

 

My first post here so I hope I haven't disgraced myself and got it wrong!!!

Edited by john.potter
spelling

Share this post


Link to post
Share on other sites
Trick question right?

 

I believe that what you have there my friend is a Bullish harami star.

 

For a harami star the body of the Doji has to be inside of the body of the leading candle but the shadow does not have to be.

 

My first post here so I hope I haven't disgraced myself and got it wrong!!!

 

You got it all wrong. It's actually a, "James loves busty blondes with a dose of plastic... star". The next one was, "The Browns suck star."

 

:)

 

Just kidding. The names don't matter. I've realized that there are three (sometimes four) types of candles here. Spinning top, WRB, hammer, and sometimes a doji if it's not labeled a spinning top. Why? Because the name doesn't matter, we just look at the context of the candle in consideration with previous price patterns.

 

But nice first post, I'll be sure to give you a nice fat thank you. Stick around in the candlestick corner and we'll be sure to corrupt you.

Share this post


Link to post
Share on other sites
You got it all wrong. It's actually a, "James loves busty blondes with a dose of plastic... star". The next one was, "The Browns suck star."

 

:)

 

Just kidding. The names don't matter. I've realized that there are three (sometimes four) types of candles here. Spinning top, WRB, hammer, and sometimes a doji if it's not labeled a spinning top. Why? Because the name doesn't matter, we just look at the context of the candle in consideration with previous price patterns.

 

But nice first post, I'll be sure to give you a nice fat thank you. Stick around in the candlestick corner and we'll be sure to corrupt you.

 

Actually, I believe that is called the "NHL is a dying sport" pattern. It's one of my favorites as it hardly ever fails since we know the NHL is the biggest joke of a sports league.

 

:did I say that?:

Share this post


Link to post
Share on other sites

Steve Nison is a joke. Wait till our book comes out, we'll find him under the bus bench crying. Him and his silly suits.... pfft

 

We'll have a whole chapter on the psychology of candles and their sports related meanings.

Share this post


Link to post
Share on other sites
Steve Nison is a joke. Wait till our book comes out, we'll find him under the bus bench crying. Him and his silly suits.... pfft

 

We'll have a whole chapter on the psychology of candles and their sports related meanings.

 

:rofl:

 

sounds good to me. we'll give TL members a discount too. ;)

Share this post


Link to post
Share on other sites
:rofl:

 

sounds good to me. we'll give TL members a discount too. ;)

 

And make it extra confusing for the VSA boys to fit in :doh:

 

 

"The NHL is a dying sport candle is only valid if followed by a James likes busty blondes with a bit of plastic if and only if that candle has a wick of 3 ticks to each extreme. If it is less than 3 ticks, that candle is null and void and warrants a short at all times."

Share this post


Link to post
Share on other sites
And make it extra confusing for the VSA boys to fit in :doh:

 

 

"The NHL is a dying sport candle is only valid if followed by a James likes busty blondes with a bit of plastic if and only if that candle has a wick of 3 ticks to each extreme. If it is less than 3 ticks, that candle is null and void and warrants a short at all times."

 

Thanks James, that makes sense now. Just to clarify I have yet to see a no demand bar for the 3 busty blondes.

Share this post


Link to post
Share on other sites
Thanks James, that makes sense now. Just to clarify I have yet to see a no demand bar for the 3 busty blondes.

 

Did you have all the indicators set correctly? I prefer at least 9 per chart, that way I get better odds of one being the holy grail.

 

I did find the secret to trading though. I plan on selling it in my candlestick book, but instead I will give it out free today for my loyal TL fans.

 

Ready?

 

 

 

 

I give you, the holy grail indicator.

attachment.php?attachmentid=7103&stc=1&d=1213588588

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • TDUP ThredUp stock, watch for a top of range breakout above 2.94 at https://stockconsultant.com/?TDUP
    • TDUP ThredUp stock, watch for a top of range breakout above 2.94 at https://stockconsultant.com/?TDUP
    • NFLX Netflix stock watch, local support and resistance areas at 838.12 and 880.5 at https://stockconsultant.com/?NFLX
    • Date: 8th April 2025.   Markets Rebound Cautiously as US-China Tariff Tensions Deepen     Global markets staged a tentative recovery on Tuesday following a wave of volatility sparked by escalating trade tensions between the United States and China. The Asia-Pacific region showed signs of stability after a chaotic start to the week—though some pockets remained under pressure. Taiwan’s Taiex dropped 4.4%, dragged lower by losses in tech heavyweight TSMC. The world’s largest chipmaker fell another 4% on Tuesday and has now slumped 13.5% since April 2, when US President Donald Trump first unveiled what he called ‘Liberation Day’ tariffs.   However, broader sentiment across the region turned more positive, with several markets rebounding sharply after Monday’s dramatic sell-offs. Japan’s Nikkei 225 surged over 6% in early trading, rebounding from an 18-month low. South Korea’s Kospi rose marginally, and Australia’s ASX 200 gained 1.9%, driven by strength in mining stocks. Hong Kong’s Hang Seng rose 1.6%, though still far from recovering from Monday’s 13.2% crash—its worst day since the 1997 Asian financial crisis. China’s Shanghai Composite added 0.9%.   In Europe, DAX and FTSE 100 are up more than 1% in opening trade. EU Commission President von der Leyen repeated yesterday that the EU had offered reciprocal zero tariffs on manufactured goods previously and continues to stand by that offer. Others are also trying again to talk to Trump to get some sort of agreement that limits the impact.   Much of the rally appeared to be driven by dip-buying, as well as hopes that the intensifying trade war could still be defused through negotiations.   China Strikes Back: ‘We Will Fight to the End’   Tensions reached a boiling point after Trump threatened to impose an additional 50% tariff on all Chinese imports unless Beijing rolled back its retaliatory measures by April 8. ‘If China does not withdraw its 34% increase above their already long-term trading abuses by tomorrow... the United States will impose additional tariffs on China of 50%,’ Trump declared on social media.   If implemented, the new tariffs would bring total US duties on Chinese goods to a staggering 124%, factoring in the existing 20%, the 34% recently announced, and the proposed 50%.   In response, China’s Ministry of Commerce issued a stern warning, stating: ‘The US threat to escalate tariffs is a mistake on top of a mistake... If the US insists on its own way, China will fight to the end.’ The ministry also called for equal and respectful dialogue, though signs of compromise on either side remain scarce.   Beijing acted quickly to contain a market fallout. State funds intervened to support equities, and the People’s Bank of China set the yuan fixing at its weakest level since September 2023 to boost export competitiveness. Additionally, five-year interest rate swaps in China fell to their lowest levels since 2020, indicating potential for further monetary easing.   Trump Talks Tough on EU Too   Trump’s hardline approach extended beyond China. Speaking at a press conference, he rejected the European Union’s offer to eliminate tariffs on cars and industrial goods, accusing the bloc of ‘being very bad to us.’ He insisted that Europe would need to source its energy from the US, claiming the US could ‘knock off $350 billion in one week.’   The EU, meanwhile, backed away from a proposed 50% retaliatory tariff on American whiskey, opting instead for 25% duties on selected US goods in response to Trump’s steel and aluminium tariffs.     Volatile Wall Street Adds to the Drama   Wall Street experienced wild swings on Monday as investors processed the rapidly evolving trade conflict. The S&P 500 briefly fell 4.7% before rebounding 3.4%, nearly erasing its losses in what could have been its biggest one-day jump in years—if it had held. The Dow Jones Industrial Average sank by as much as 1,700 points early in the day but later climbed nearly 900 points before closing 349 points lower, down 0.9%. The Nasdaq ended up 0.1%.   The brief rally was fueled by a false rumour that Trump was considering a 90-day pause on tariffs—rumours that the White House quickly labelled ‘fake news.’ The market's sharp reaction underscored how desperate investors are for any sign that tensions might ease.   Oil Markets in Focus: Goldman Sachs Revises Forecasts   Crude prices also reflected the uncertainty, with US crude briefly dipping below $60 per barrel for the first time since 2021. As of early Tuesday, Brent crude was trading at $64.72, while WTI hovered around $61.26.   Goldman Sachs, in a note dated April 7, lowered its average price forecasts for Brent and WTI through 2025 and 2026, citing mounting recession risks and the potential for higher-than-expected supply from OPEC+.       Under a base-case scenario where the US avoids a recession and tariffs are reduced significantly before the April 9 implementation date, Goldman sees Brent at $62 per barrel and WTI at $58 by December 2025. These figures fall further to $55 and $51, respectively, by the end of 2026. This outlook also assumes moderate output increases from eight OPEC+ countries, with incremental boosts of 130,000–140,000 barrels per day in June and July.   However, should the US slip into a typical recession and OPEC production aligns with the bank’s baseline assumptions, Brent could retreat to $58 by the end of this year and to $50 by December 2026.   In a more bearish scenario involving a global GDP slowdown and no change to OPEC+ output levels, Brent prices might fall to $54 by year-end and $45 by late 2026. The most extreme projection—based on a simultaneous economic downturn and a full reversal of OPEC+ production cuts—would see Brent plunge to below $40 per barrel by the end of 2026.   Goldman noted that oil prices could outperform forecasts significantly if there was a dramatic shift in tariff policy and a surprise in global demand recovery.   Cautious Optimism, But Warnings Persist   With both Washington and Beijing showing no signs of backing down, markets are likely to remain volatile in the days ahead. Investors now turn their attention to upcoming trade meetings and policy decisions, hoping for clarity in what has become one of the most unpredictable trading environments in recent years.   Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Andria Pichidi HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • CVNA Carvana stock watch, rebound to 166.56 support area at https://stockconsultant.com/?CVNA
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.