Candle stick pattern signaled the possible movement of the recent NFP news release - Page 7
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Thread: Candle stick pattern signaled the possible movement of the recent NFP news release

  1. #61
    Quote Originally Posted by hosny55 View Post
    Candle sticks is a very good and related to the price action strategies . that type of the trading which may be so easy and we may find that it is very possible for every trader even if he is a beginner . and also we have to find more about the market when we use the price action strategies .
    Yes candle sticks are best for price action analysis but again it depends on how well trader took his lessons. 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.

  2. #62
    I do prefer the trading using that type of charts . in which I can use the candlesticks as a separated stories of the price at a certain period of time . so i may see that every candle stick can tell me the start and the end of any time frame to treat at . with a very possible to trade using the candlesticks only with out having any other indicators .

  3. #63
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    Quote Originally Posted by AmitChallenger View Post
    Yes candle sticks are best for price action analysis but again it depends on how well trader took his lessons. 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.
    You are right, the candle stick pattern is the best way of trading and then on the other hand, it is the way the trader have got to learn how to make use of it matters. I could be making use of candle stick pattern and get the best out of it, while someone else would be making use of it and losing, therefore it does not depend on the strategy but then the way which is been used and how effect it is been used.

  4. #64
    Quote Originally Posted by splash View Post
    You are right, the candle stick pattern is the best way of trading and then on the other hand, it is the way the trader have got to learn how to make use of it matters. I could be making use of candle stick pattern and get the best out of it, while someone else would be making use of it and losing, therefore it does not depend on the strategy but then the way which is been used and how effect it is been used.
    It is a matter of what strategy we are comfortable, there are also traders that dont use candlestick, but what is important is we can be profitable in whatever strategy we use, there are also traders that even if they have all the best strategy in the world they still lose because they are indiscipline in following the rule.
    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

  5. #65
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    Quote Originally Posted by techboy View Post
    It is a matter of what strategy we are comfortable, there are also traders that dont use candlestick, but what is important is we can be profitable in whatever strategy we use, there are also traders that even if they have all the best strategy in the world they still lose because they are indiscipline in following the rule.
    Yes what we understand well we should adopt that. If we are fine with line charts then nothing wrong in using them or bar charts. Well i think demo account is best for improving trading knowledge and in demo account trader can easily improve their trading analysis and also master charts reading.

  6. #66
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    Quote Originally Posted by forexfighter007 View Post
    Yes what we understand well we should adopt that. If we are fine with line charts then nothing wrong in using them or bar charts. Well i think demo account is best for improving trading knowledge and in demo account trader can easily improve their trading analysis and also master charts reading.
    You are right we have to define what suits us best for our trading. We can work that way but the thing is we should correct our flaws. One thing i have learnt for sure and that is forex is too risky and any thing can happen any time..the market is too much fluctuating and it is almost impossible to predict the price..

  7. #67
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    Quote Originally Posted by SuccessfulKartik View Post
    You are right we have to define what suits us best for our trading. We can work that way but the thing is we should correct our flaws. One thing i have learnt for sure and that is forex is too risky and any thing can happen any time..the market is too much fluctuating and it is almost impossible to predict the price..
    You are right, we just have to know that which works for us thus we should follow it and trade thus. To me I have got to know that the candle stick pattern happens to be the best trading strategy I have ever made use of, thus I have to learn it more in depth in other to have my profit maximized, I don't trade the news unless the candle stick gives me a reason to trade.

  8. #68
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    Quote Originally Posted by splash View Post
    You are right, we just have to know that which works for us thus we should follow it and trade thus. To me I have got to know that the candle stick pattern happens to be the best trading strategy I have ever made use of, thus I have to learn it more in depth in other to have my profit maximized, I don't trade the news unless the candle stick gives me a reason to trade.
    Candle stick chat can be used for the our strategy but I would suggest to add some more confirmations, it our own idea and logic that how much confirmations we need in our trading and experience also important to check that. Some trader's like to do price action and they don't use any indicator, understanding and knowledge can be gained through so many trading systems but experience with them is necessary at first.

  9. #69
    Quote Originally Posted by Earnperfect View Post
    Candle stick chat can be used for the our strategy but I would suggest to add some more confirmations, it our own idea and logic that how much confirmations we need in our trading and experience also important to check that. Some trader's like to do price action and they don't use any indicator, understanding and knowledge can be gained through so many trading systems but experience with them is necessary at first.
    Candlestick chart helps when identifying possible reversal but it is true that it will be more effective when it is combined with other indicator or technique in trading it is important that we follow high probability signal all the time so that we can have more profitable trades.
    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

  10. #70
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    Quote Originally Posted by techboy View Post
    Candlestick chart helps when identifying possible reversal but it is true that it will be more effective when it is combined with other indicator or technique in trading it is important that we follow high probability signal all the time so that we can have more profitable trades.
    Of course, that is what I know the candlesticks trading system for, it will tell the trader when there is likely reversal in the market, and the trader will be conscious in what they are doing at that time. I love this best on the higher time frames, and I know that it is better to confirm it with another strategy before you are using it.

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