I’ve noticed something I haven’t seen before in watching charts: identical consecutive candles on the daily chart. The last two days, we see two side by side candles, matched perfectly in every way. The nature of the candles varies from stock to stock, but for a given stock, they are identical in every way…same color, same body size relative to wicks, same upper/lower wick proportions.
This just seems weird to me. If they were all perfect dojis, then it wouldn’t be remarkable, but some pairs are tall green or red bodies, with small wicks. When they’re green, for example, that would mean a strong bullish day, followed by a large gap down to exactly the previous day’s opening, followed by a day with exactly the same increase as the previous day.
Right now I can’t even find a stock where that didn’t happen. I’ve looked at extremely illiquid tickers as well as tickers that had significant catalysts between the two days (e.g. AMZN). Even there, the move due to catalysts occurred during extended hours and the twin candle pattern still occurs on the day chart.
I am not experienced or big on TA; I use common strong support/resistance lines and rarely look at multi-day patterns, so maybe this isn’t unusual, but looking quickly through the day charts for a few high volume tickers I don’t see this pattern in the last couple of years. Maybe I missed it.
Anyone have thoughts/opinions on what this means, if anything? Ever seen it before?
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