Candlesticks and its strategy

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  1. #1
    Moderator hunter's Avatar
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    Default Candlesticks and its strategy

    Candlesticks and its strategy
    The candle stick chart is closely related to the bar chart. it also consist of four major prices: high, low, open, and close. the opening and closing prices form the body of the( jittai) candlestick

    to indicate that the opening was lower than the closing, the body of the bar is left blank. in its original form, the body was colored red. the current standard electronic displays allow you to keep it blank or select a color of your choice.

    why i decided to provide these information is to help beginners understand few things: that may start them off as demo traders. don't feel ever, that these few details are enough for forex trading. i mean, the real.

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    candlestick is really wonderful indicator most of my strategies based on candlestick chart and as a newbie i have started with this indicator it's really useful for newbies if they learn it with seriously and try it in demo trading before real trading account.

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    CAD/JPY DAILY as of Thursday, 20 December, 2012
    A Daily black body has formed (because prices closed lower than they opened).
    For the past 10 Daily candlestick bars as of 19/12/12, there are 7 white candles versus 3 black candles with a net of 4 white candles.
    For the past 50 Daily candlestick bars as of 19/12/12, there are 29 white candles versus 21 black candles with a net of 8 white candles.
    A Daily engulfing bearish line has formed (where a black candle's real body completely contains the previous white candle's real body). The engulfing bearish pattern is bearish during an uptrend (which appears to be the case with Canadian Dollar / Japanese Yen). It signifies that the momentum may be shifting from the bulls to the bears.
    If the engulfing bearish pattern occurs during a downtrend, it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle's real body.
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    Junior Member Steven Smith's Avatar
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    i just use fibonacci retracements to be aware of potential supports and resistances levels. i think that using Japanese candlesticks only it is enough as the indicators just analyse the candlesticks and give their results.
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    Last edited by Steven Smith; 02-12-2013 at 07:08 AM.

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    Member celcius's Avatar
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    Do fibonacci will give 90% of accuracy of showing support and resistance level??

  6. #6
    danny
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    yeah. i use it in my chart. i like candle stick. it is great tool. we can follow market easier. it is great for trader in forex market and stock market.

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    For making profit constancy we the traders have to depend on our trading strategy that we select according to our trading experience. I have been using price action strategy from my first day of trading. And, for using this trading approach accurately I have selected MXTrade trading broker due to exact candlestick which is very supportive to predict the market with certainly.

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    Candlestick means price action trading strategy which is mainly considered as a most usable and profitable trading policy in this market place. I have decided to trade in Trade12 trading broker for using this trading strategy in a proper way because of exact candlestick that is extremely supportive to calculate the real faction of this market with certainly.

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    Quote Originally Posted by Umar Khalifa View Post
    Candlestick means price action trading strategy which is mainly considered as a most usable and profitable trading policy in this market place. I have decided to trade in trading broker for using this trading strategy in a proper way because of exact candlestick that is extremely supportive to calculate the real faction of this market with certainly.
    the most important thing in forex trading business for success can be obtained by having a maximum of science, and I along centroFX more comfortable in using a demo account to develop a strategy that will in practice on real accounts

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    in ro ham eslah kon:
    I believe the only best strategy that works for me is to keep things simple and straight forward. If we do that accurately, it will bring results. I get that working nicely and easily through FreshForex, who are amazing having lovely benefits that gives me the comfort to race through any strategy nicely and easily.

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