Isn't it amazing how long those shadows are drawn in your pictures, at least twice as long as the body, wouldn't you agree?
However to answer your question I usually go by what Steve Nison has to say. He is described as The Father of Modern Candlestick Charting. Steve Nison is the acknowledged Western authority on the subject of candle charting. His two internationally bestselling books, Japanese Candlestick Charting Techniques and Beyond Candlesticks, have been translated into eleven languages. He holds an MBA in Finance and Investments. He was among the first to receive the Chartered Marked Technician (CMT) designation from the Market Technicians Association (MTA) and was nominated for the MTA’s “Best of the Best” for Price Forecasting and Market Analysis.
BTW he is talking about the same names for the CS I just posted, like hammer, hanging man, shooting star and inverted hammer, but then what does he know. He probably should open his mind and take notes from beisha and his Truth System.
"Whats inverted / hammers got to do with the 78% fib ratio ?"
Wow, that really hurts, but hey, I will leave it there, because I thought I made it clear before and so I won't waste my time on going over it again!
New TA/Charting, page-4622
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