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?
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. 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. In Forex, this candlestick is most of the time a doji or a spinning top, preceding a third candle which closes well below the body of the second candle and deeply into the first candle's body. Candlestick cheat sheets are powerful tools to improve your trading skills and to be more efficient when identifying candlestick patterns in the Forex market. I am pretty sure you always wanted to know how to trade forex with candlesticks, but how many figures or candles do you have to memorize? As experience comes with time, memory too. 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.
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