The resolution of today's daily candle provides an excellent example of how
a single candle can morph from one interpretation during the day into something
with a different interpretation at the session end.
At midday, the candle was reading out as a "Hanging Man", with an oftentimes dire interpretation.
Yet, at the close, the final forming of this candle now complete, the candle is called a
considered as a Market that is unsure (without conviction) about the daily sessions to follow.
Rather a perfect 'take' on the speculated out come for Ad Com, no ?
The proverbial 'split decision', as it could be called.
Why point to this shape-shifting of today's daily candle ?
Daily candles are not really finally 'painted' until the day is almost 3/4's done.
And that same generalized 3/4 rule can also be applied to weekly candle formation.
Now, if one is a self-proclaimed Investor, following the weekly candles can eliminate a lot of the strurm, drang and overall noisiness
that we all can see across Investor Village.
Yah, but ..............
What about Portfolio Protection ?
In this case, said Investor can look at the daily candles and use them as a sort of
Early Warning device for making portfolio adjustments.
Ah yes, the fine art of reading multiple interval charts simultaneously.
Now, if one considers charting as hogwash, another thought about AMRN's trading
when it is brought back to life on Friday, opex Friday -
Looking at the 11/15 Straddles, in general, Friday's PPS will have to move either below $19
or above $25 if da boys in that band want to hit and run.