Are there any candlestick patterns working for forex trading? Experiences?
Recently i started to examine candlestick patterns as a trading signal for forex trading. I used talib for evaluating candlestick patterns occurrences and also different candlestick time bases ranging from minutes to days on several majors (EUUSD, JPY/USD, USD/CND, USD/GBP, EUGBP), but till know I found any edge. Is there somebody running any profitable strategy based on candlestick patterns? Have you any recommendations for improving my strategy? Do you believe that there can be found any edge and if not why?
Home Forex MT4 Indicators Best Candlestick Pattern Indicator. Best Candlestick Pattern Indicator. The candlestick patterns are patterns that take place on the Japanese candlestick charts. The candlestick chart is a type of chart that changes color based on whether price closed higher or lower than the open price. Forex candlestick patterns offer a real-time glimpse into whether the bulls or bears are taking charge of a market and therefore allows you to make an informed trading decision. When used in conjunction with trends and simple support/resistance levels, forex candlestick patterns become one of the simplest and most powerful analysis tools available. The final candlestick pattern which we are going to cover, and also one of the most important Forex chart candlestick patterns, is the doji pattern. The doji pattern is a specific candlestick pattern formed by a single candlestick, with its opening and closing prices at the same, or almost the same level. A doji pattern signals market indecision. Forex Candlestick Patterns Bottom Line. Each candlestick pattern mentioned in this article signifies a different movement or action in the market. Forex traders who study these patterns, their shapes, compositions, and meanings for prices can make decisions regarding buying and selling as they see these patterns take shape. Candlestick charts are available on ThinkForex trading platforms for all assets individuals can trade on the platforms. Below is a sample of a candlestick chart derived from the ThinkForex web trading platform: This chart shows price on the right (vertical) axis, and time on the bottom (horizontal) axis.
Forex - The Candlestick Bible - Audio Breakdown - YouTube
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