Letters To S&C by Technical Analysis Inc.
STEP CANDLE PATTERN
The upstep and downstep
in Figures 2 & 3 in
Sylvain Vervoort’s July
2013 article (“The Step
Candle Pattern”), [reproduced
here as Figures 1 & 2], leave
me with some questions:
1. All eight have four or five trading days
illustrated. Are days 1 & 2 important?
2. There was no mention of the candle
“wicks” (day’s high & low). Are they
3. For both the upstep and downstep,
why do scenarios 1 & 3 as well as 2 &
4 look the same?
Jim Von der Wische
Author Sylvain Vervoort replies:
1. Days 1 & 2 are not important. I am
simply trying to show the lowest low and
2. For the upstep and downstep pattern,
the last candle has to open inside the
body of the previous candle; whether
there are wicks or not is not important
for the pattern.
3. There are some differences. For example,
in scenario 1 in the upstep pattern,
the second-to-last candle represents the
lowest low. In scenario 3, the lowest low
is represented by the last candle.
Is there a back issue that covers any
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top traders? Have you published any
ratings or do you offer any newsletters
on this? Can you recommend a good
source for education on trading stocks,
options, and forex, as well as technical
analysis? I am trying to source the best
traders to follow ideas from.
As an educational, how-to magazine, we
generally do not cover contests or rate
individual traders. There are several
organizations unrelated to this magazine
that do hold contests and can be found
on the Internet via a search. If it were
ratings on trading systems you seek, we
might suggest trying FuturesTruth.com
As for following other traders, we’ve
recently listed some services in our
monthly Trade News & Products section
that may interest you; you can review
that information for followup.
We do publish a Readers’ Choice
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You also may be interested in our
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learn about their approach.
As for education on technical analysis
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You can also find leads to many other
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