If enough people believe the same thing will happen when looking at various combinations of candlesticks, traders will react accordingly, so the share price will ultimately reflect the "cup and handle" or whatever else you're using. I've looked into it a few years ago, did some courses, tried it out in trading simulators. Maybe I'm wrong, but it seems more like a pseudoscience that traders make a self fulfilling prophecy. Does it work? Clearly sometimes, but only if enough people make it happen. My opinion only, and happy to reconsider with further evidence.
The PAA pattern..., page-223
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Last
19.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $97.22M | |||
| Open | High | Low | Value | Volume |
| 19.5¢ | 20.0¢ | 19.5¢ | $187.5K | 942.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 545934 | 19.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.0¢ | 109362 | 7 |
View Market Depth
| Last trade - 15.01pm 30/07/2024 (20 minute delay) ? |
| PAA (ASX) Chart |