Sacktheboss
Recruit
- Messages
- 2
Hi everyone,
I am as new as the term 'newbie' can get. I've never traded, not even a demo account. At the moment I am trying to learn as much as possible before enrolling in a course to help get me started practically. At the moment I am reading a book about Candlestick charting and have a question that relates to something that I have read recently. I'm probably going to have a ton of really simple questions throughout my early stages of learning but I guess if I don't understand something then I need to ask right?
Hopefully people will have patience with what might seem the most simplest of questions. Oh well, Preschool here I come....
The question: When referring to a top or bottom reversal pattern, does this mean that the formation will take place at the top of an upward trend in the case of a 'top reversal' and at the bottom of a downward trend in the case of a 'bottom' reversal?
Unfortunately, when I try to google the terminology all I get in the results are different examples of candlestick formations that are stated as either a top or bottom reversal but no explanation or definition of what is being spoken about when top or bottom is used in front of the word reversal.
I'm guessing that the answer is probably quite obvious and that maybe I have answered my own question, (I don't know) but hopefully someone can confirm that I am correct and/or explain it for me?
Thanks in advance
I am as new as the term 'newbie' can get. I've never traded, not even a demo account. At the moment I am trying to learn as much as possible before enrolling in a course to help get me started practically. At the moment I am reading a book about Candlestick charting and have a question that relates to something that I have read recently. I'm probably going to have a ton of really simple questions throughout my early stages of learning but I guess if I don't understand something then I need to ask right?
Hopefully people will have patience with what might seem the most simplest of questions. Oh well, Preschool here I come....
The question: When referring to a top or bottom reversal pattern, does this mean that the formation will take place at the top of an upward trend in the case of a 'top reversal' and at the bottom of a downward trend in the case of a 'bottom' reversal?
Unfortunately, when I try to google the terminology all I get in the results are different examples of candlestick formations that are stated as either a top or bottom reversal but no explanation or definition of what is being spoken about when top or bottom is used in front of the word reversal.
I'm guessing that the answer is probably quite obvious and that maybe I have answered my own question, (I don't know) but hopefully someone can confirm that I am correct and/or explain it for me?
Thanks in advance