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CornellEngineer

11/15/18 1:15 AM

#329 RE: JohnCM #325

Lately I've started also looking at Heiken Ashi candlesticks among a lot of other technical indicators...they are a modified form of traditional candlesticks. Don't know yet if they are a good indicator or not but so far at least they seem to be somewhat reliable when used with several other TA tools. What I like about them the most is that they really help to clean up a chart and make spotting potential trends easier...I just find traditional Japanese candlesticks terribly messy although I still use them to eyeball potential resistance and support levels since Heiken Ashi sticks don't show true prices...

https://www.investopedia.com/trading/heikin-ashi-better-candlestick/

Wish I could put up a chart to show ORHOF but right now it has a bunch of red bars near the hard right edge lately that have solid bodies on top and long wicks coming out the bottom. Those are bearish and almost all of the pot stocks have them right now.

I also am starting to like Keltner Channels a lot for the same reason...they help clean up a chart and are not as wildly changing as Bollinger Bands are when things get volatile...

https://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:keltner_channels

I'm still not making perfect entries and exits yet (and probably never will) so obviously these indicators are not magic bullets but I figure the more TA indicators you look at the better the odds your trade will likely have to be profitable, even if only slightly better. They help to at least give me a rough idea what the potential risks and rewards might be for a possible trade and give me a clue where some reasonable target buy and sell prices might exist.