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Thread: Candlestick Patterns/Signals

  1. #1

    Candlestick Patterns/Signals

    Do you incorporate candlestick patterns/signals into your trading technique? Or can you find them irrelevant?

  2. #2
    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.

  3. #3
    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.

  4. #4
    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?

  5. #5
    Hey 777,

    For me - Candle sticks with confluence are strong. Candles on there have - .

  6. #6
    Quote Originally Posted by ;
    Don't let candlesticks or any indiors fool you.

    That is the reason why I do not need indiors .

    I use fixed targets, they do not move. My trades can be planned beforehand.

    News or other events do not change what I do but that I benefit from the price action caused by them.

    The more CONSTANTS you have in your side the better your chances to make a profit.
    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

  7. #7
    Quote Originally Posted by ;
    Sounds like a very interesting concept and I enjoy it. Could you please provide specifics of the methodology that you use to set up a trade?

    Thank you
    Hi Adam,
    I believe TRO was prohibited around the same period as this post. You may be waiting a little while for a reply.

  8. #8
    However, TRO is still out there... Has his web site selling his system!!! If I had $500, I'd buy it in a flash!!!

  9. #9
    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.

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