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Thread: Candle stick pattern signaled the possible movement of the recent NFP news release

  1. #1
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    Candle stick pattern signaled the possible movement of the recent NFP news release

    According to the last NFP Event which took EURUSD down for over 170 pips. Like I love making use of candle stick patterns and also S&R level, I got my signal about it on the daily chart time frame with a bearish Pin bar indicating a possible downward movement.

    Attachment 12711

    The red arrow indicating the Bearish pin bar And the price went down straight to my support line(I got that minor support from the 4 hour time frame)

    And since this signaled a downward in EURUSD. It means AUDUSD, GBPUSD, GOLD and NZDUSD will also go down during the news release while USDJPY, USDCHF and USDCAD will all move up. And they did as expected only USDCAD which is currently under a weekly broken support line now serving as resistance line, therefore that line prevent the news impact on USDCAD.

    Attachment 12712

    In conclusion, such signals happen most times, but then we have to know that nothing is certain in forex market, through experience we will get to know the decision to make, also risk and money management is important, I don't trade the news, I trade the candle stick patterns in support with S&R levels..

    Thanks.

    Hope this helps.

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    Last edited by splash; 06-15-2015 at 11:02 PM. Reason: Adding broken attachments.

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    I see, I also took a buy position on that day, I lost my money, but nothing to worry about since I made use of money management, I have also been learning about candle sticks and know that there are some negative side of it too. Well, you must have made good amount of money from it mate and to me, I think this will help us some other time, please ensure to post more of your patterns and reason why you took them.

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  3. #12
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    Quote Originally Posted by sharegistFX View Post
    I see, I also took a buy position on that day, I lost my money, but nothing to worry about since I made use of money management, I have also been learning about candle sticks and know that there are some negative side of it too. Well, you must have made good amount of money from it mate and to me, I think this will help us some other time, please ensure to post more of your patterns and reason why you took them.
    Which day are you referring to my friend, what was the condition of this day you are talking about. So far you said you are using the money management in this, there is no way you will get satisfying trading in forex when the trader do not do the money management, this will cater for nay losing which comes to traders.

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  4. #13
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    Quote Originally Posted by sharegistFX View Post
    I see, I also took a buy position on that day, I lost my money, but nothing to worry about since I made use of money management, I have also been learning about candle sticks and know that there are some negative side of it too. Well, you must have made good amount of money from it mate and to me, I think this will help us some other time, please ensure to post more of your patterns and reason why you took them.
    Well, this is the reason why I thus make use of the longer time frame and the candle stick pattern and you see when I am not sure with a trade, I make sure not to take it.

    In forex trading we need to learn and know what work for us. SOrry for your loss but then money management protect you, however, I will advice you add candle stick patterns to your trades.

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  5. #14
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    Quote Originally Posted by splash View Post
    In forex trading we need to learn and know what work for us. SOrry for your loss but then money management protect you, however, I will advice you add candle stick patterns to your trades.
    It is normal for traders to lose in the market, but the carelessness of the trader makes them lose more than necessary, this is why they need to change the view at which they are doing trading some times, or try to have a good way to manage their trade and they need to have the self control, this is what I know that is more effective to help trader.

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  6. #15
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    Quote Originally Posted by splash View Post
    Well, this is the reason why I thus make use of the longer time frame and the candle stick pattern and you see when I am not sure with a trade, I make sure not to take it.

    In forex trading we need to learn and know what work for us. SOrry for your loss but then money management protect you, however, I will advice you add candle stick patterns to your trades.
    with today trading sense, i have met many trades saying they are now working with higher time frame, this is not a bad thing, it is good to safe the trader more than working with the smaller tie frame which will not help under many trading terms, it will make them to be wandering in trading for long.

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  7. #16
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    Quote Originally Posted by silverlady View Post
    Candlestick pattern makes representation of the chart, it is a gamble to say it will represent how NFP will trade. It is not good to trade NFP with chart seen on the forex, the news will break and the way traders who are trading it interprets the news will make the movement you will see in the news and nay other news too.
    It is candlestick in the market who make those market more volatile and make those market profitable all depend on the traders they may lead wrong or good in trading they can win or lose profit in forex market because they have money toninvest but have to make management of the capital on the market so the market can be controlled by them only when they have good idea to describe it well with goos trading plan they set the market on the earning point if the trader doesn't see the market they don't analysis the market it may love wrong way.

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  8. #17
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    Quote Originally Posted by Quid View Post
    It is candlestick in the market who make those market more volatile and make those market profitable all depend on the traders they may lead wrong or good in trading they can win or lose profit in forex market because they have money toninvest but have to make management of the capital on the market so the market can be controlled by them only when they have good idea to describe it well with goos trading plan they set the market on the earning point if the trader doesn't see the market they don't analysis the market it may love wrong way.
    No sir, I do not think that it is the candlestick that makes the market moves, the candlesticks are only linked with the price of the market, just like the other chart representations that are not candlestick are linked directly on the chart if they are the one the trader prefer. The price of the market is the one moving and the fundamental, technical patterns and prevailing sentiment of the market drives it.

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  9. #18
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    Quote Originally Posted by Quid View Post
    It is candlestick in the market who make those market more volatile and make those market profitable all depend on the traders they may lead wrong or good in trading they can win or lose profit in forex market because they have money toninvest but have to make management of the capital on the market so the market can be controlled by them only when they have good idea to describe it well with goos trading plan they set the market on the earning point if the trader doesn't see the market they don't analysis the market it may love wrong way.
    Candlesticks is good point to be working with, it can not be over use for nay reason as it is risky in its on way too. The indicator working with the candlestick may be the better choice for traders in working with. Possible movement of the market is not hidden with candlestick when it is well known.

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    operating from the higher effect problems from the information as well as legislation through the discharge associated with organization individuals functions from the great opportunity additionally because occupying using the actual design technique and much more upon verification indicators because individuals in order to experienced using the traditions upon information using the discover upon exercise from the software through the previous conditions upon certification because mentioning the larger upon accuracy as well as power because helping the utilization because employed in event.

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  11. #20
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    Quote Originally Posted by silverlady View Post
    with today trading sense, i have met many trades saying they are now working with higher time frame, this is not a bad thing, it is good to safe the trader more than working with the smaller tie frame which will not help under many trading terms, it will make them to be wandering in trading for long.
    The ability to trade and make money is to be able to trade and make use of the higher time frame therefore following the main trend, in the lower time frame, there is no usual clear trend.

    The canld stick pattern has helped me in the past week and I was able to make 100 percent of my investment in just a week, I am happy I am getting better with candles.

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