Do you incorporate candlestick patterns/signals into your trading technique? Or can you find them irrelevant?
Do you incorporate candlestick patterns/signals into your trading technique? Or can you find them irrelevant?
Candles are crucial on my own trading. Whil I look at the trend and in which it could go and wheres its been. I also look at what the candles do. In a strong up move that happens really quickly and all a sudden a doji forms then I understand a potential retracement may occur. So know the candles themselves as well as the patterns they form are key components.
Price action, it's essential.
I have a novel by Steve Nison, he is the guy that gave us at the west candle sticks.
The book is called Japanese Candlestick Charting techiques I highly recommend.
Read this book read. So people actually think the candles are applicable in Currency Market trading because a main framework to a trading approach or just some enhancement into a trading style?
Sounds like a very interesting theory and I enjoy it. Can you please give details of the methodology that you use to setup a trade?
Thanks
Hi Adam,
I believe TRO was prohibited around the same period as this post. You may be waiting a little while for a reply.
However, TRO is still out there... Has his web site selling his system!!! If I had $500, I'd buy it in a flash!!!
The key thing for me is incorporate. I use them to inform me hello pay attention. When I view a doji or a hammar (for instance ) I don't instantly trade them I seem to my other instruments to affirm exactly what the candlestick is telling me.
I enjoy trading Head and Shoulders, 1-2-3, and triangle patterns but only as long as it coresponds along with my other indiors.