Home > Candlestick patterns, chart of the day, Gold, heikin-ashi, Japanese candlesticks, Modified japanese candlesticks, SP-500, SPY, Trading, Trends > Heikin-Ashi, the Market, the Gold, and the Ugly ($SPX SPX $GLD GLD)

Heikin-Ashi, the Market, the Gold, and the Ugly ($SPX SPX $GLD GLD)

June 8, 2012

Many traders and candle gurus may call yesterday’s candle a shooting star or even a gravestone doji.

The answer may differ depending on how they define a trend preceding the candle.

For a heikin-ashi trader, things are simple: SP-500 has a top!

 

Heikin-Ashi, the Market, and the Gold ($SPX SPX $GLD GLD)  6/7/2012

 

On the other hand, gold ETF (GLD) is at support (lower pane).

It’s worth noting the haDelta top/reversal signal has been printed two days before the big drop.

haDelta is not perfect but ignoring it may cause losses.

 

Heikin-Ashi, the Market, and the Gold ($SPX SPX $GLD GLD)  6/7/2012

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