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    Candlesticks Charts and Its Types!

    Candlestick chart is one of the best and popular chart rather than other's like line chart, bar chart, etc. Most of forex trader's follow candlestick chart to make their trading analysis, The good thing about candletick chart that it helps trader's to make a good trading analysis in Price action trading too. Trader's use Trend lines, Support and resistance, and Candleticks to make an effective trading analysis.

    I have already use all types of charts till now but I am much satisfy with the use of candlestick chart. Because with the help of Candlesticks and Technical analysis, I able to get a good idea about strong support and resistnace area's during trading. In this thread I would like to discuss about the functions of differ candlesticks, which would give you a lot of help to understand differ kinds of market patterns in forex.

    Almost we all know the names of differ candlesticks, but I am sure that only few trader's know the functions of candlesticks. I think Robo forex forum is a great way to help trader's, that's why I have created this thread for all forum members. So here we go now I would like to discuss about differ types of candlesticks.

    1. Hammer : A hammer candlestick is very popular in the market, and it provide a best signal of reversal trend. Most of time we can see this type of candlestick in the market bottom. It is a very good indicator from where you can enter in the market for a bulllish trend. The pattern of hammer will appear in a downtrend market and don't get confused about its color, Red and Greed both are reversal sign's.

    Attachment 12529

    2. Spinning Tops:
    Spinnng tops Canflesticks could be seen in the market many time, during a uptrend market and a downtrend market. There is no change in the market trend when this type of candlestick apper, and most of time we can see a big spike of candlestick (High and Low) during that period. I like to follow this type of candelstick pattern in my trading.

    Attachment 12530

    3. Hanging Man:
    Its also a very good indicator of trend reversal, most of time we can see this type of candlesetick pattern on uptrend rally. It would give you a good signal toward a bearish market direction. The color of hanging man candlestick is not much important, but Red hanging man is more bearish rather than a green hanging man

    Attachment 12531

    4. Engulfing:
    Its also a another form of trend reversal pattern in the market called as Engulfing candlestick chart pattern. When a green candlesetick body englufs a red body from the preceding period then it is called as a bullish trend rally or Englufing Bullish, On the other hand same like this when a redy body engulfs a green body of the preceding period then we can say that this is a indicator of bearish trend.

    Attachment 12532

    5. Inverted Hammer:
    A inverted hammer pattern is also very famous in the market, and almost all trader's know well about it, It mostly appear in the bottom of the downtrend market and give a reversal trend signal. The body of inverted hammer will be green.

    Attachment 12533

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    Quote Originally Posted by samprazaan View Post
    [lang=id]first, candlestick itself is the real time indicator that will show us directly to us, and traders need to have the right skill to indicate the market movements based on this, there are some points that we can learn about candlestick and a part of them is about the patterns, but of course, we do not make it as the only thing to understand the market movements[/lang]
    You are right about that, therefore if we would want to make money making use of it, then we will have to learn. In addition, I would like to make us know that to make it work that much, then we have to make sure that we make use of the longer time frame, there the candle stick formations are more effective.

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    In long term time frames we have less candlesticks and less choppy market that's why signals are more better in long term trading, in past I had a short term target but now I am fully working with long term trading. We have to learn long term trading to know about so many things, especially the market movement, short term trader's should also have an eye on long term time frames, according to that they can take decisions in short term time frames.

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    the patter has with the unique on figure as trader may use of the returns on appearance on improving trading decision to gives with the stronger on confirmation. to compete with the good chance on closing with the precision as trader works also with the different manage of analytics on appeals with the order preparation.

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    Registered user cutiekc's Avatar
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    The candle stick pattern is one of the best trading strategies which so many traders have been using. Over the time, I have been learning of this good trading pattern and have been getting to understand it better It works for the patient ones who can wait and trade it with patient. In recap, it also works for those who will be patient enough to practice.

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    Quote Originally Posted by cutiekc View Post
    The candle stick pattern is one of the best trading strategies which so many traders have been using. Over the time, I have been learning of this good trading pattern and have been getting to understand it better It works for the patient ones who can wait and trade it with patient. In recap, it also works for those who will be patient enough to practice.
    Yeah, even until now there are so many people who still using candlestick pattern to trade. Sometimes if there are candlestick pattern which really good, i still using it for trading. Despite candlestick pattern is not my main trading strategy, but sometimes it really can help me to analyze the market

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    Registered user cutiekc's Avatar
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    Quote Originally Posted by elena View Post
    Yeah, even until now there are so many people who still using candlestick pattern to trade. Sometimes if there are candlestick pattern which really good, i still using it for trading. Despite candlestick pattern is not my main trading strategy, but sometimes it really can help me to analyze the market
    I know about one who make it with the candle stick trading strategy, I am even as it is now giving it a taught to start his trading course, in the sense that I would love to improve the more and even though I am doing a bit good with my own trading strategy, still I would love to add more knowledge and skills to the one I have already.

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    If you are a price action trader , you can not do without being familiar with candlestick pattern because that is the premise on which any price action trading strategy is built.You can come out with a good trading strategy just with only candle pattern combined with support and resistance levels.This is part of what a trader must learn why going through the basic of forex trading and the more reason we tell people that learning is very important in forex trading to acquire necessary knowledge, skills and experience

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    Quote Originally Posted by layigold View Post
    If you are a price action trader , you can not do without being familiar with candlestick pattern because that is the premise on which any price action trading strategy is built.You can come out with a good trading strategy just with only candle pattern combined with support and resistance levels.This is part of what a trader must learn why going through the basic of forex trading and the more reason we tell people that learning is very important in forex trading to acquire necessary knowledge, skills and experience
    The candlesticks trading is actually the price action trading to, it will only be the analysis of the price on the chart by the pattern the candle demonstrated on the same chart. This is not a hard thing for traders to find, and the combination of the support and resistance system with it will make things better for traders, and stronger signals will be seen.

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    Quote Originally Posted by cutiekc View Post
    I know about one who make it with the candle stick trading strategy, I am even as it is now giving it a taught to start his trading course, in the sense that I would love to improve the more and even though I am doing a bit good with my own trading strategy, still I would love to add more knowledge and skills to the one I have already.
    You can make it in forex trading, just make sure you learn the good way to give you the money. The traders who can make trading without the good understanding of what they need to work with will have problems, traders will be careful with the selection of their working skills, and that candlestick is possible to make income for traders regularly.

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    Registered user cutiekc's Avatar
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    Quote Originally Posted by Sylvertee View Post
    You can make it in forex trading, just make sure you learn the good way to give you the money. The traders who can make trading without the good understanding of what they need to work with will have problems, traders will be careful with the selection of their working skills, and that candlestick is possible to make income for traders regularly.
    Really I am certain about making it in forex trading and I know that I am the one who is to determine how possible that would be, therefore I have to learn and gain more skills to be able to make money from the business. Forex trading is a more different business but to those who has the skills.

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