arent they all the same?

[lulu2199]

Hello all,

I was checking all the signals showing reversal tendencies in a chart of candle stick. However, I have hammer, shooting star, pin bar and doji. Aren't they all signals saying that the market is about to reverse? I only looked for pin bar as reversal till now. Is it better than others, or just one of many reversal signals?

Thanks!

Lulu2199

 

[Easy Trader]

Yes they all are reversal signals, except for the doji (IMO) it is the market showing indecision. The traditional "evening star" and "morning star" formations incorperate the doji but there is a gap that is necissary if i remember correctly, and is much more reliable in the equities market as apposed to futures or forex. I perfer the pinbar over the hangman/hammer or shooting star because I have found them more reliable with the added criteria it needs to be considered a true pinnoccio bar.