Creessydeld
02-17-2016,
Hi Guys,
I am a beginner to the trading endeavour so I decided to start by buying a good book and study it. I decided to put my bet on "Come into my trading room" - Elder.
Now I have come to a part where he starts describing Kangaroo tails; I quote "A tail is a one-day spike in the direction of a trend, followed by a reversal. It takes a minimum of three bars to create a tail - relatively narrow bars in the beginning and at the end,with an extremely wide bar in the middle. That middle bar is the tail, but you won't know for sure until the following day, when a bar has sharply narrowed back at the base, letting the tail hang out".
My query is: To what type of chart is he referring? Is it some kind of bar chart?? What information is represented in the width of a 'bar chart'??
Thanks for your time guys, have a good day.
I am a beginner to the trading endeavour so I decided to start by buying a good book and study it. I decided to put my bet on "Come into my trading room" - Elder.
Now I have come to a part where he starts describing Kangaroo tails; I quote "A tail is a one-day spike in the direction of a trend, followed by a reversal. It takes a minimum of three bars to create a tail - relatively narrow bars in the beginning and at the end,with an extremely wide bar in the middle. That middle bar is the tail, but you won't know for sure until the following day, when a bar has sharply narrowed back at the base, letting the tail hang out".
My query is: To what type of chart is he referring? Is it some kind of bar chart?? What information is represented in the width of a 'bar chart'??
Thanks for your time guys, have a good day.