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Thread: What is candlestick strategy?

  1. #1
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    What is candlestick strategy?

    I have saw candlestick pattern charts in mt4 but i can not get to have a best strategy on them to trade, please someone indicate me a strategy to use over candlestick charts.

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    The candle stick strategy is the trading with the candles as indicated. Pure candle trading needs no indicator. But it is a choice to add them, maybe to make the trading more solid as we need it to be. The candle stick can be seen as the most used chart in forex trading market, so we can see the tutor on how to use it on so many sites.

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    There are 9 time frames on your trading platform. Like M1,M5,M15,M30,H1,H4,D1,W1 and MN. If you watch this time frame then you will get idea about market movement and you also be able to predict the market. This is call fundamental analysis. So if you want to take short time entry then use short time frame and after making profit close it on the other hand if you want to hold your entry for long time then follow long time frame. Actually taking entry or predicting the market by watcing the time frame is kind of candlesticks strategy. This is how i trade.

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    Quote Originally Posted by sniper007 View Post
    The candle stick strategy is the trading with the candles as indicated. Pure candle trading needs no indicator. But it is a choice to add them, maybe to make the trading more solid as we need it to be. The candle stick can be seen as the most used chart in forex trading market, so we can see the tutor on how to use it on so many sites.
    Of course indicators are needed. Market does not follow any rules, regulation. You won't be able to give 100% surety. So to get idea and to understand we traders use indicators. Like moving average. Moving average gives some idea about any pair. You set the market average movement and use it on time frame then you will get idea where market will move after 5 minutes or 1 hour.

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    Candlesticks do form in all time frames and it can be seen as a way of understanding the language of the forex market. When you look at the formation of the candlesticks in a lower time frames like the 1 or 5 minutes time frames, you will noticed they have some kind of different pattern or formation and this is never good for judging the trend of the market, but when you go to as higher time frames like the 4 hour or the daily, then you can get a better vies of the market, and this is where professional and experience do take some trades from using the candlesticks. Candle stick trading strategy is a process of using candle formation to trade the forex market.

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  5. #754
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    Candlesticks is the basis of trading in the technical analysis, which is the reading of chart, we have single candlestick formation that communicate to traders and we have patterns formation as well, trader need to be familiar with them to be able to do good analysis.for example we have single formation like doji, pin bar, hammer, hanging man etc, instructing trader on the decision to take in trading, we still have patterns giving signal to sell or buy,trader need to be so observant to detect them for profitable trading.

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