Candle stick pattern signaled the possible movement of the recent NFP news release - Page 81
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Thread: Candle stick pattern signaled the possible movement of the recent NFP news release

  1. #801
    Quote Originally Posted by AmitChallenger View Post
    It is always a better idea to stay off from things we dont find profitable and focus on what we can understand more intensively. Many traders even trade news with high risks or based on chart directions. It would be a mistake to trade news based on charts and time frames. We ave to trade the news we are familiar with and with fundamental analysis.
    That could be a good advice as far as you are not able to study the news figures well enough to make a meaningful analysis. But I do believe that building the skills for trading news can be very profitable and that is what my current focus is to learn about. News have higher volatility and offers the chance for you to make more profits, so naturally it is going to involve more risk too.

  2. #802
    news trading is hard and tough for newbie because news do not have proper reasons for up or down market we can not determine its current data from its history because we do not have any specific tools to predict it. so i think we should use technical trading it can save us from big loss. if we trade on fundamental we can earn big but can lose big as well. so do some technical trading

  3. #803
    Trading candlestick is good and can provide a very good entry location for whatever opportunities we have seen to be traded, but their limitations is that they don't have what it takes to predict a news like non Farm payroll, this news has volatility beyond any candlestick or even strategy, technical analysis are sometimes useless with this NFP news.

  4. #804
    The truth needs be told , candlestick patterns becomes irrelevant in the face of high impact news effect on the market . I am talking from what I have personally experienced in my entire trading career .I trade both technical and fundamental analysis though I prefer technical analysis being a price action trader myself . If you want to trade economic news in the first instance , it is very important to acquire the knowledge of fundamental analysis.

  5. #805
    Trader nsawork's Avatar
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    The forex market movements are dictated by both fundamentals as well as technicals for the currency pair in which we are doing our trade. During certain times we have very high impact news that comes out and we can see the effect of that news on the currency pair.

    Here we need to know about the market fundamentals which is also known as fundamental analysis. Because as my brother's Layigold has said during the times of high impact and high market volatility the technicals fade away, they are no longer relevant and no matter which technical system we are using, it will not give us correct signals.

  6. #806
    The reason why candlestick will be irrelevant when there is a news that contains high impact on the market is the fast pace of movements that happen, no matter how strong your candlestick recognition is before then, it would make no sense because price does not give room for you to see what might come next.

  7. #807
    candlestick strategy have always signaled a possible reversal in the market when there is a very volatile news coming,i have encounter that many times.that is to tell how profitable candlestick strategy is and why we need to always pay attention to the strategy even if we don't trade with it,the interesting part about it is that you get to make more and risk very little of your money on the trade.

  8. #808
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    Quote Originally Posted by juniorpeters View Post
    candlestick strategy have always signaled a possible reversal in the market when there is a very volatile news coming,i have encounter that many times.that is to tell how profitable candlestick strategy is and why we need to always pay attention to the strategy even if we don't trade with it,the interesting part about it is that you get to make more and risk very little of your money on the trade.
    it can be profitable i agree but use some specific patterns just as taking decision otherwise i consider this strategy as supportive one because we cannot take a right decision at right time if we have this one,so make sure you do well but use some strong ways as well like trend trading or other long term strategies

  9. #809
    We should not deceive ourselves when trading the non Farm payroll because there is no candlestick that will predict how the market will behave, it is pertinent to that candlestick formation can only be very effective when there is no news announcement being anticipated, the moment you see a news, just forget about technical analysis.

  10. #810
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    Quote Originally Posted by Leonvic View Post
    We should not deceive ourselves when trading the non Farm payroll because there is no candlestick that will predict how the market will behave, it is pertinent to that candlestick formation can only be very effective when there is no news announcement being anticipated, the moment you see a news, just forget about technical analysis.
    you are right both are different ways, candlestick pattern is technical trading it based on chart movement and news is different it moves on data which will announce so if we try to compare both at same time i think we can not take decision, technical and fundamental both are different and can be opposite as well, with that we can use 2 ways of technical but not technical and fundamental at same time

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