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Nison Case Study Analyze these doji in the context of what happened before. 6ħ Steve Nison s The Candlestick Success Formula Non Forex Doji Which of these scenarios is a more likely top reversal? Scenario 1 Scenario USA 13 Doji in Forex USA 14 7Ĩ Steve Nison s The Candlestick Success Formula Doji as Warning Weekly Weakly Doji Confirms resistance Use the highest high of those two sessions (top of upper shadow) as resistance 8ĩ Steve Nison s The Candlestick Success Formula Candles can be used in all time frames Market is tired Nison Candles and Options - the Perfect Fit This doji is showing a shift in psychology since it comes during a rally Is this doji telling us there is something different about the market? 9ġ0 Steve Nison s The Candlestick Success Formula Doji in Context There is no trend to reverse with this doji thus we ignore it. Chart courtesy of Genesis FT 7 Stocks Weekly FX Options ETF s Futures Bonds Daily Hourly 30 Minute 15 Minute 1 Minute 5Ħ Steve Nison s The Candlestick Success Formula Basic Criteria: Market in up or down trend Open and close prices are the same (or nearly the same) Market Implication: Market at a point of indecision Saved by the light of the candles! Those poor traders who got fooled into buying here. 3Ĥ Steve Nison s The Candlestick Success Formula Who s in control? Who s in control? CANDLES REVEAL THE FORCE BEHIND THE MOVE: HOW DOES THIS KNOWLEDGE IMPROVE YOUR TRADING? These have the same closing prices, but what are the candles telling us? What does this bar chart say? Holding the highs very well so looks fine Chart courtesy of Genesis FT 4ĥ Steve Nison s The Candlestick Success Formula Now what does this candle chart say? Does the market still look fine? Chart courtesy of Genesis FT And what happened after. The relative size and position of the shadow displays the extent of price rejection. SIMPLE! The Framework: Analyzing Real Bodies and Shadows 2ģ Steve Nison s The Candlestick Success Formula high Shadow close open Real Body open low close Real Bodies / Shadows The longer the real body the stronger the momentum.
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Most candle signals are potential reversals. 1 Steve Nison s The Candlestick Success Formula The Candlestick Success Formula With Steve Nison, CMT President: Candlestick Charting Techniques Steve Nison s Trading Triad Success System Candlesticks + Western Indicators Candlesticks + Trade Management Candlestick Success Formula Agenda 1Ģ Steve Nison s The Candlestick Success Formula Reversal Signals Where the current trend slows or reverses after the reversal pattern.