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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.

  2. #21
    Registered user Quid's Avatar
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    Quote Originally Posted by splash View Post
    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.
    The traders can not have the ability to make money in the market without the motivation from themselves they need to have motivation from themselves they need to see their market trading plan to trade based on the market potential if the market is not having its liquidity then they need to start trading with the plan if they trade to earn 50 persen a month it is very good with the risk 5 persen lot size ,so finally they need to be clear like that to themselves that will make them successful that is what happens.

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  3. #22
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    Quote Originally Posted by Quid View Post
    The traders can not have the ability to make money in the market without the motivation from themselves they need to have motivation from themselves they need to see their market trading plan to trade based on the market potential if the market is not having its liquidity then they need to start trading with the plan if they trade to earn 50 persen a month it is very good with the risk 5 persen lot size ,so finally they need to be clear like that to themselves that will make them successful that is what happens.
    Yes, couple of times when I was down in loss and was scared of opening trades, I got the motivation to start trading because I was having some good discussion with some other traders that can trade and make money.

    well, another thing that will help us is that we need to learn and gain more skills on trading and making use of money management, we need to learn and understand the way that the market works.

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  4. #23
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    Obviously, what one should see and know about forex is that, the impact of news forms those candles that we are seeing on the chart in forex trading. Apparently the are likely to form some signals and that is what a trader that can make use of the candle stick pattern will be able to know and able to read that the market is about moving in a direction.

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  5. #24
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    Well, following the prior gap that occured this weekend, The candle stick pattern helped me gain good amount of money because I took some trades some few minute before the closing time on friday. Would have posted some screenshot, but I ran out of the market , I would have loved showing the screen shot with my trades on, but showing it now without proof of the trade I had will not be convincing.

    Candles are great and when we give it time to learn it, I am positive that we will be able to learn and make money with it in the market.

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  6. #25
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    Quote Originally Posted by splash View Post
    Well, following the prior gap that occured this weekend, The candle stick pattern helped me gain good amount of money because I took some trades some few minute before the closing time on friday. .
    The candle stick patterns should be making you good amount of money, I wish you share more of it. I am learning it, I have been the support and resistance strategy trader, but now I wish to add something like the candle stick pattern of which I think is essential and will strengthen my trading strategy to help me make money.

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  7. #26
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    Quote Originally Posted by splash View Post
    Well, following the prior gap that occured this weekend, The candle stick pattern helped me gain good amount of money because I took some trades some few minute before the closing time on friday. Would have posted some screenshot, but I ran out of the market , I would have loved showing the screen shot with my trades on, but showing it now without proof of the trade I had will not be convincing.

    Candles are great and when we give it time to learn it, I am positive that we will be able to learn and make money with it in the market.
    Candle sticks as you said can signal us many market behaviors and inform us about the possible market tendencies. Mostly It can give us clear information about the support and resistance levels. But the recent uncertain movement and volatility especially in the eur related pairs due to the prevailing uncertainty in Greece have created a lot of confusion. Only strong brokers like Roboforex are able to keep up their great services. One of my broker with which I made $80 profit and had a capital of $200 declared bankruptcy recently.

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  8. #27
    Registered user Quid's Avatar
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    If i trade the news like nfp i think it is always there is trading with good timing.There is trading before nfp or after nfp and the traders wait if the nfp news is good or not they can decide to trade.If the news is good they may trade if the news is bad they may not trade.Trading like that the traders can see the situation and trade when they can see the market at the current trending time.Traders need to know market condition and make their decision.

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  9. #28
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    Quote Originally Posted by PROPENSITY100 View Post
    Candle sticks as you said can signal us many market behaviors and inform us about the possible market tendencies. Mostly It can give us clear information about the support and resistance levels. But the recent uncertain movement and volatility especially in the eur related pairs due to the prevailing uncertainty in Greece have created a lot of confusion. Only strong brokers like Roboforex are able to keep up their great services. One of my broker with which I made $80 profit and had a capital of $200 declared bankruptcy recently.
    Main thing is how well we can do the analysis. If we have good analysis then trading can be stress free and can actually be very good for my brain. so it is not hamper our mental health. but forex is not good for physical health to those who spent a lot of hours to trade. because they tend to seat in front of computer and not move their body regularly.

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  10. #29
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    Quote Originally Posted by Abhishekwala View Post
    Main thing is how well we can do the analysis. If we have good analysis then trading can be stress free and can actually be very good for my brain. so it is not hamper our mental health. but forex is not good for physical health to those who spent a lot of hours to trade. because they tend to seat in front of computer and not move their body regularly.
    Unsuccessful traders not only lose money but also spoil their health due to frustration. learning and experience are the two pillars on which profiting in forex is based. the trader should not stop learning and knowing the new methods of technical analysis and also should not stop analyzing his wrong trades and successful ones as well.

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  11. #30
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    Quote Originally Posted by PROPENSITY100 View Post
    Candle sticks as you said can signal us many market behaviors and inform us about the possible market tendencies. Mostly It can give us clear information about the support and resistance levels. But the recent uncertain movement and volatility especially in the eur related pairs due to the prevailing uncertainty in Greece have created a lot of confusion. Only strong brokers like Roboforex are able to keep up their great services. One of my broker with which I made $80 profit and had a capital of $200 declared bankruptcy recently.
    I guess that should be a very new broker in the business, I avoid such broker and also one of the brokers we use kept on switching the pair to close mode only.

    You see any broker that does that is not a good broker, well, I also made some good money with it and I have no issues with my broker, I am being careful with brokers.

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