Important facts you should know about forex candlesticks
More information in todays forex market in being used generally in candlestick charts that forex traders are using in there tradings that provide more information and help them in there trading of the forex market. Signal providers will give you more information in signal provider
Forex candlesticks should not really be used in isolation to make trading decisions but when combined with specific technical indicators they can be very effective at predicting turning points or breakouts. In fact candlesticks are an excellent way of providing a trader with additional confirmation of a price move and act as a way of enforcing what other technical indicators are already saying.
The most useful way of discussing candlesticks trading is first is to say its not as complex as you may have tought and that anyone can become a verygood analysis of trading patterns
Reading a candlesticks charts becomes easy once you understand that the color indicates certain movement of currency at a certain time frame. The colors red show if they prices are moving in a down state and the green indicates a moving up state.
We will discuss more candlestick patterns and strong signals that have different trading patterns to looks for. Each has a different meaning. There’s nothing revolutionary in this but the strong signals come when you start
The long wick indicator is the hammer and its and indicator that is called a hanging man pattern. Both indicators look the same. both of them are good indicators that a reversal could be about to take place.
Consecutive small bars by one large bar is and indicator of a strong pattern is in the future and upwards or downward trends can take place.
These are just a few candlestick patterns you should familiarise yourself with but there are lots more that you should learn. Candlestick patterns, when combined with other technical indicators, can be very effective at predicting price moves and are generally more useful than the basic bar charts that a lot of forex traders use.
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