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Hi Velo,
' now it should do the bleedin' opposite, LOL'
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….and indeed it has! In fact, studying the candles again :-), the 2 day pattern looks like 'Tweezer Bottom', a bullish Reversal signal and particularly strong when candle bodies are about the same size.
Thanks for all the time and info today. Much appreciated.
https://www.marketscreener.com/VODAFONE-GROUP-15867071/charts/
Hi Longish, Yep - Calling it in - Call it: A Failure To Launch. Taking too long. Danger of broken clock syndrome.
80% success rate I reckon. So, if you want the 20% failure rate out of the way, there is a guaranteed method to do so. Post your conclusions on what a candlestick formation is implying - in public, on a forum like this - and bingo - egg on your face. Never fails to fail - (is that a double negative?)
So now all you've got to do, is keep your observations to yourself, and when it transpires and acts as you thought, tell everyone you thought it would do that - afterwards. It's the only way :) :) :) (Just remember to duck).
To answer your question, tonight is just an ugly bear candlestick, a big 'un too - continuation of crap if you like. Can't see anything good about it. (There, that should do it; told the truth in public, now it should do the bleedin' opposite, LOL!)
Hi Velo,
'Do you want me to submit and accept defeat?'
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Todays daily candle looks like a hammer but the real body is too long and lower shadow too short!
Does that indicate (confirm) instead of a strong bullish reversal we have a weak bullish reversal or uncertainty of 123 support?
Ah well the end of the week. One tries. Do you want me to submit and accept defeat?
Can I push for asking for just a wee bit longer? No, admit defeat you say? Well I remain defiant and state here and now:
My name is Maximus Decimus Meridius Velo, commander of the Armies of the North, General of the Felix Legions and loyal servant to the true emperor, Marcus Aurelius. Father to a murdered candlestick, husband to a murdered second digit 3. And I will have my vengeance, in this week or the next.
Can I have next week please? :)
Patience Mikey, patience.
Although I realise citing patience to long sufferring holders of Vod is an abuse of the word patience, nonetheless this is still in XD period so unless there's new news, any rise is going to be within the confines of the restrictions that are artificially placed upon the SP within XD period. No way is the system stacked to allow you to collect a dividend and a big rise too in the same period. Otherwise the whole world would trade every shares every single dividend period like a fiddler's elbow and get rich quick. The market's not daft. It's already wise to that wrinkle.
The pattern is secure but lacking strength. Tonight's close is inadequate to throw it off course completely. It was a bit iffy, and yes could go on to declare this a misfire based on the 80/20 principle as otherwise if patterns were 100% accurate no one would bother with fundamentals or anything else - as the world would know that patterns never ever fail. Well they do. Now and then. Not enough to give up but enough to confirm no one system is beyond the occasional misfire.
Not prepared to declare a misfire tonight. Let it zig. And let it zag. There is no straight edged ruler like rise. You know that. It will zig and zag along it's way. It will not perform on cue to anyone's command. It will seesaw and whipsaw along it's chosen path.
Patience. If it fails I will of course submit.
However, as of tonight the fat lady has not yet sung her song. It's still game on.
The constant downward trend i cant see a 3rd digit soon !!!
".. But ,Velo sounds high, As a kite,,.."
- Ha! Mad as a hatter would be a better fit :)
"I think you must have had you charts upside down :)"
- exactly what I'm thinking when I hop over to check up on the VIX where down is good for share prices, and up is bad.
Spot on Longish - a Bullish Engulfing.
- In the dentists waiting room so riverdancing a no-no at the moment, besides my riverdancing is more related to that David Brent dance.
Honestly Mikey, I just buy when it looks cheap...
I think you must have had you charts upside down :)
Come on guys - this is vodafone you are talking about - we all know it will be down again today probably lower than it was Monday
Come on guys - this is vodafone you are talking about - we all know it will be down again today probably lower than it was Monday
Late night...
Bullish Engulfing
If anyone can beat Longish to the draw with the answer to the riddle, I'll get up from my computer and sing:
" I think I'm turning Japanese, I really think so " ( 'Japanese candlesticks' for the uninitiated :)
And accompany the song whilst doing R\verdance at the same time. Or maybe just the feet going, if I can't cordinate
Longish - A 'pattern' close tonight. And it's a good one! I've checked and it's on your cards. - and it's bullish.
A two candle pattern, with a two word name.
Can you identify it?
I've already said it's bullish, so that's a starter - it's a Bullish "........" what?
Don't confuse it with the Bullish Harami, by making sure the colours are the right way round - and the sizes the right way round to match the card.
So that's a (bullish) Doji on Friday. (1)
Your bullish Spinning Top yesterday. (2)
Both confirmed by a plain bullish candle tonight. (3)
But tonight's close, on it's own, is just another bullish candlestick.
But look closely with the Spinning Top and today's large bullish candlestick and together bingo! - A pattern. (4)
That's a full confirmation!
What's the pattern called?
It's fair to say I won't be surprised to see Wed close with the second digit sporting a "3".
I'm open to offers on the third digit :)
And if not by Wed, then Thursday. Only thing is - how much strength in it - given this is still in XD period?
Come on you 4 candles, better than the 4 moaners?!
Hi Dan,
' Just hope all these candles will light up the vod sp'
_____________________
Yes me too.
Fork handles, is trench humour from a 2 Ronnies sketch I am sure you remember ;-)
Velo kindly provided a simple guide to interpreting candles in a weekend post and I am following with interest.
Todays candle suggests a change in momentum and is often the first candle of a reversal. So it will be interesting to test/ monitor the SP over the next few days.
Longish/Velo. Fascinated by your posts! I hav'nt got the faintest idea what you are going on about, but more fool me perhaps. Are you talking about fork handles, or 4 candles? Either way , you have lost me. Just hope all these candles will light up the vod sp.
Thank you Velo. I think we will see some recovery from here
Longish - apologies!
Was busy elsewhere when I saw your post mentioning my name so felt obliged to respond. But in all that time had left another chart up on screen. Delete my previous post - it was for another share.
I can confirm, yes, VOD did go on to close as a full-on, in your face, bona fide Spinning Top.
Longish, just checked - and it's currently morphed into a long legged Doji with the catch-up trades now in. At least I think it's a bullish Long legged Doji.
But defo not forming a Spinning Top anymore.
Long legged Doji's are good for trend changes. This one's bulliush. The long wick below it shows the bears drove the price down alarmingly (126?) but the bulls chased them all the way back up by close. The body closed higher than it opened. All to the good. The bears lost today's battle.
Conclusion? Possibly a change to the wee downtrend back to a more ameanable outlook. But need more "confirmatory" signs to be absolutely sure IMO.
Japanese candlesticks set on dailies time frames are only valid by close of day, as they often change all meaning during the day. They're not really recommended for day trading but they are 'fractional' which means they can be used on any setting. And so if on say a five minute chart they often surprise me in their forecasting. I take it you're looking at today's chart set on daily prices? If so, you must wait until the day's trading is over for dailies.
PS. Can be black or white? ..... Personally, I colour my candles red and blue. Why? because like a dog and it's b'llocks, I can :)
Hi Velo
'Candlestick Flash cards........'
Is that a spinning top today?
•Broad classi?cation of any smaller than average candle body
•Can be black or white
•May have upper, lower shadow, or no shadow
•Indicates a change in momentum
•Often the ?rst candle of a reversal
Fleccy,
As soon as a quantum computer comes up for sale in John Lewis I will buy one and reverse my VOD buys...
https://www.independent.co.uk/life-style/gadgets-and-tech/news/time-reverse-quantum-computer-science-study-moscow-a8820516.html?amp
"But I agree, big data, high frequency trading and the emergence of AI, quantum computing etc"
AI, HFT and algorithms, running on super computers, are all currently feasible, but i'm not so sure about Quantum computing. A theoretical Quantum computer, capable of dealing with the number of variables required, is a long way off. There's a possibility that Quantum Computers may not even be possible at a large scale. There's a lot of hype around Quantum computing and building computers with 100 Qubit capability, but we still appear to be a long way off. Quantum computing, theoretically allows all possibilities to be considered at the same time, with the most likely outcome being the answer. The technology relies on the superposition theory, where a quantum bit can be both zero and one at the same time and everything in between and by entangling multiple Qubits together forming a Quantum computer, an algorithm can be designed to get the desired result. The Quantum world is in a constant state of flux, with all states played out simultaneously and the result will be the most probable outcome, which is what shapes our macro world. Some scientists think that the Universe is one big Quantum computer, clocking at the speed of light and when you look at theories like the twin paradox, it doesn't seem so far fetched.
https://www.theverge.com/2019/1/8/18171732/ibm-quantum-computer-20-qubit-q-system-one-ces-2019
https://www.youtube.com/watch?v=PzL-oXxNGVM
https://www.youtube.com/watch?v=noaGNuQCW8A