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C a n d l e s t i c k s T u t o r i a l |
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Dissecting a Candlestick
Changing time frames when viewing candlestick patterns is useful tool when looking for patterns leading up to good trading opportunities.
For example, consider the Bullish Harami Pattern that is manifested on the Daily time frame chart (Figure 26).
The same stock plotted on a 15 min time frame chart shows that the stock is actually setting up for a Bullish Reversal Consolidation pattern.
Using the Daily chart and the 15 min chart together make it easier to find possible trade opportunities.
For example, the trader can scan for Harami setups on the Daily chart, and then pull up a 15 min chart to confirm the stock is experiencing a consolidation pattern preparing for a break out.
Figure 26
Figure 27
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