Forex Candlestick Basics
I think every trader should back to basics again on reading and understanding forex candlestick basics strategy or candlestick patterns.
Candlestick charts are a popular component of technical analysis, enabling traders to interpret price information quickly and from just a few price bars. They summarize a period’s trading action by visualizing four price points: open, close, high, and low. The wide part of the candlestick is called the “real body” and tells investors whether the closing is white/green if the stock closed higher). The candlestick’s shadows show the day’s high and low and how they compare to the open and close. A candlestick’s shape varies based on the relationship between the day’s high, low, and opening and closing prices. Candlestick patterns are used to predict the future direction of price movement. Some popular patterns include the Morning Star (bullish reversal pattern) and Evening Star (bearish reversal pattern), Bullish Engulfing Pattern, Bearish Engulfing Pattern, Dark Cloud Cover, Doji, Dragonfly Doji, Evening Star, Gravestone Doji, Hammer, Hanging Man, Harami, Inverted Hammer, Morning Star, and Piercing Pattern. Candlestick patterns can be made up of one candle or multiple candlesticks. They can also form reversal or continuation patterns.
Mastering Forex Candlesticks Trading Strategy – Free Course
So, with this candlestick basic knowledge, we can understand about reading the market movement and how strong sellers or buyers are. This is one of my favorite e-books that can brighten your knowledge about real market movement. We can learn and practice by reading the candlestick pattern only, my suggestion read in at least 4 four-hour time frames and usually. And if the price reaches doji or pinbar from the monthly time frame usually takes an extreme lot which on this level price usually bounces this level is very accurate in scalping and sometimes makes reversals so we can get more pips.
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Back to this great e-book, we can learn about how we enter, exit when we hold, and when we exit. This e-book is one of the simplest and fastest ways to study candlestick patterns.
By the way, I like this e-book because of the simple explanation that makes sense in understanding this complicated chart pattern. So, we don’t have to know hundreds of candle patterns again. Once again these candlestick basics give us a clear knowledge to predict the market future. Just read this very great Forex e-book.
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Conclusion
Just simply download the Forex easy candlestick strategy ebook, The Candlestick Trading Bible, and free some Forex templates and indicators, forex expert advisors and learn it by reading again and again until we understand this Forex candlestick strategy that gives us information about real market movement. We can trade with them easily from now on by understanding these great candlestick basics and still combining this candlestick strategy with the forex supply demand zone too. This candlestick basics strategy is very suitable for applied trading with the best forex brokers for scalping.
These reversal candlestick trading strategies can change your perspective on how to read candlestick reversal patterns that we use as trading confirmation signals in a small time frame to get the best momentum signals which must be in the support resistance zones from a high time frame as our entry zone, so with these multi-timeframe analysis to get sharp entry forex trading signals. Here is the video above gives us a tutorial on how candlestick patterns can be one of our best trading signal confirmations for intraday traders even for swing traders.
