If Ifs and Buts Were Candy and Nuts

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If Ifs and Buts Were Candy and Nuts

I noticed this as I was waiting for the weekly charts to update and wanted to share.  Often times I hear people on the stream say something about what a weekly (or worse monthly) candle looks like with a good bit of time left before it closes.  The charts below are the weekly version of the Triple Play Charts that I post regularly.  The first chart is the weekly through Thursday. Admittedly it looked rough and sent the bears to bed thinking Christmas was coming early for them.

11-8-2013 TP Weekly excluding Friday

Then we see the full weekly chart

11-8-2013 TP Weekly

Now granted, this week only had one day left, but what a difference a day can make.  Not say we can’t go down further, but if your read is off the weekly chart, your reversal candle never finished.  the lesson remains the same.  Don’t base your trade/trade plan on an incomplete candle no matter what the timeframe.  It is a recipe for bad outcomes.

Good Luck! it is there for the making!

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(All market data above are derived from Stockcharts.com, Esignal, and Reutersdatalink)
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About Author


is a Chartered Market Technician (CMT) and Certified Financial Planner (CFPr) in Greensboro Georgia (Outside Atlanta). Founding partner of Barber Lackey Financial Group, LLC, a Registered Investment Advisor. However, this blog is not affiliated with BLFG and does not make recommendations to buy sell or hold any securities.