i was in a rush when i typed that so my thoughts
Post# of 3333
(Total Views: 298)
Posted On: 04/22/2017 7:13:47 PM
Re: vietvetharry #2550
i was in a rush when i typed that so my thoughts got jumbled. two things are going on in that post of mine.
1. ICNB is in a downtrend but not because of the 3 line break
2. the 3 line break chart got a second red candle.
.. in other words, they complement each other but arent directly telling the same story.
This chart shows down trend: basic candle chart..
http://stockcharts.com/h-sc/ui?s=ICNB&p=D...7663810323
This chart with indicators show a down trend:
http://stockcharts.com/h-sc/ui?s=ICNB&p=D...6850551615
The 3 line break chart is more of a tool to confirm the other charts and indicators. Seeing the 3 line break only plots a candle when the THIRD candle moves higher or lower than the previous THREE candles, it is significant because it illustrates visually that the current close closed lower than the previous 3 days. This visual allows us to say to ourself, "Ok now.. whats going on here? Should I buy more? Hold? Sell?"
From here, we go to the heikin chart to confirm a down trend has formed:
http://stockcharts.com/h-sc/ui?s=ICNB&p=D...2181964558
..which it does.
this is why i posted this post with all of the charts in one post:
https://investorshangout.com/post/view?id=4452594
To be most effective, we use more than one chart, comparing and contrasting them to our DD, PR's and filings.
When you asked..
.. those two white candles didnt indicate an uptrend for two reasons
1. because the other charts showed a downtrend.
2. because the 3 line break chart isnt meant to find short term 'trends' (at least i dont use them like that). the chart could go weeks without plotting a candle; and so, i believe the 3 line break makes a poor chart for short term trends.
1. ICNB is in a downtrend but not because of the 3 line break
2. the 3 line break chart got a second red candle.
.. in other words, they complement each other but arent directly telling the same story.
This chart shows down trend: basic candle chart..
http://stockcharts.com/h-sc/ui?s=ICNB&p=D...7663810323
This chart with indicators show a down trend:
http://stockcharts.com/h-sc/ui?s=ICNB&p=D...6850551615
The 3 line break chart is more of a tool to confirm the other charts and indicators. Seeing the 3 line break only plots a candle when the THIRD candle moves higher or lower than the previous THREE candles, it is significant because it illustrates visually that the current close closed lower than the previous 3 days. This visual allows us to say to ourself, "Ok now.. whats going on here? Should I buy more? Hold? Sell?"
From here, we go to the heikin chart to confirm a down trend has formed:
http://stockcharts.com/h-sc/ui?s=ICNB&p=D...2181964558
..which it does.
this is why i posted this post with all of the charts in one post:
https://investorshangout.com/post/view?id=4452594
To be most effective, we use more than one chart, comparing and contrasting them to our DD, PR's and filings.
When you asked..
Quote:
then why didn't the two open white candles indicate an up-trend to continue?
.. those two white candles didnt indicate an uptrend for two reasons
1. because the other charts showed a downtrend.
2. because the 3 line break chart isnt meant to find short term 'trends' (at least i dont use them like that). the chart could go weeks without plotting a candle; and so, i believe the 3 line break makes a poor chart for short term trends.
(3)
(0)Iconic Brands, Inc. (ICNB) Stock Research Links
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There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
Disclaimer:
As used herein, the terms "You" and "Your" shall mean you, individually, the reader, and each other party on whose behalf you may use the contained information at any time.
All references to "My", "I", and “The writer of the above post” shall refer to the creator of the username Joey68.
Do NOT invest unless you are prepared to sustain a total loss of the money you have invested plus any commission or other transaction charges.
There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. I assume no responsibility for your trading and investment results. You should NOT rely on the information in the above post to make any decision or take any action.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are OPINION and NOT fact and are for entertainment purposes only. Do your own research and make your own decisions based on your own conclusions.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are NOT advice, and are NOT designed to substitute the expertise and judgment of a professional. It is your responsibility to seek investment advice during all stages of your investments. It is your responsibility to evaluate the accuracy, completeness and usefulness of the information in the above post.
I am NOT a professional.
I do NOT work for you.
My posts are NOT investment advice. I am not paid to post.
There is no correlation between the number of posts I write per day and your assumed success of a company.
It is NOT my responsibility to inform you of my own personal investment decisions.
It is NOT my responsibility to inform you when it is time for you to buy, hold, and/or sell a position.
I have no control over, and am not responsible for the actions of others who copy, store, edit, change, prepare any derivative work of or alter in any way any of the content provided in my posts.
Errors and Omissions expected. The writer of the above post accepts no liability or responsibility for any errors or omissions contained in the above post or contained within this Disclaimer.
The writer of the above post shall NOT accept any liability for the accuracy or completeness of the information contained in the above post, for any reliance placed by any person on the information contained in the above post, or for any damage or loss, however caused, in connection with the use or reliance on any information contained in the above post.
The above post may contain links to websites owned and operated by third parties. These links are provided for informational purposes only and are NOT endorsed by the writer of the above post. The writer of the above post has no control over the contents of any linked website and bears no responsibility for the accuracy, legality, or content of the external site or for that of subsequent links.
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The writer of the above post makes no warranties or representations, express or implied about such linked websites, the third parties they are owned and operated by, or the information contained on these websites.
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There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
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