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

    EURUSDDaily.png

    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.

    USDCADWeekly.png

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

  2. #2
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    It is a nice thread but the attachments you given are not working. Please check it . In trading, we usually depend on the signals provided by our trading setups. Traders may prefer to use a combination of indicators or some may simply prefer the SOR and candle sticks patterns. Both would be good as far as the analysis of the trader is right. So you got right signal for NFP news release, hope you bagged some nice pips.

  3. #3
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    Quote Originally Posted by PROPENSITY100 View Post
    It is a nice thread but the attachments you given are not working. Please check it . In trading, we usually depend on the signals provided by our trading setups. Traders may prefer to use a combination of indicators or some may simply prefer the SOR and candle sticks patterns. Both would be good as far as the analysis of the trader is right. So you got right signal for NFP news release, hope you bagged some nice pips.
    I have fixed it now. Yeah, I think we just need to give forex more time and learn, I mean, there are no holy grail in the business, nothing works that perfectly in forex trading.

    All we need to do is to master the strategy and follow it, so far so good, that has been what I have been doing and it has been paying me off and making me make more money.

  4. #4
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    working of the high impact issues of the news and regulation by the release of institution those works of the good chance also as occupying the use of the pattern strategy and more on confirmation signals as those to had with the customs on records with the notice on practice of the application by the past terms on qualification as referring the higher on precision and strength as supporting the use as working in occasion.

  5. #5
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    Well, dear friend, I think you have made a good point there, but one needs to however master the act of the candle stick pattern to know how it tallies with news, and also not all the candle stick patterns are that good some are just going to make you make some mistakes. I would just recommend that you make use of stoploss the right way.

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    Was this is a great observation many a time it happens that whatever is going to happen due to the fundamentals has already been signalled by the technicals. For example when brexit result was about to come, the market had already gone up so that to consolidate the downward movement that it was going to encounter. And the notion I got from there is that the technical analysis knows before hand what is going to happen in the fundamental world.

  7. #7
    Quote Originally Posted by ravian View Post
    Was this is a great observation many a time it happens that whatever is going to happen due to the fundamentals has already been signalled by the technicals. For example when brexit result was about to come, the market had already gone up so that to consolidate the downward movement that it was going to encounter. And the notion I got from there is that the technical analysis knows before hand what is going to happen in the fundamental world.
    Many things will kept on happening in the market and surely there are a lot of several reasons for them too. Traders that do not see the signal and do not even understand them usually will not know what they will encounter next and they are not prepared to face them too in the end.

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    Sorry but I am not able to see your attachment's. May be sum bug is still there please fix that, By the way I don't do trade much on news time but trading with support and resistance points always beneficial for trader because all we know that this this is the basic rule of our trading to follow technical analysis. Support and resistance points plus pin bar combination could be a good trading style specially on news

  9. #9
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    Quote Originally Posted by forexlearner View Post
    Sorry but I am not able to see your attachment's. May be sum bug is still there please fix that, By the way I don't do trade much on news time but trading with support and resistance points always beneficial for trader because all we know that this this is the basic rule of our trading to follow technical analysis. Support and resistance points plus pin bar combination could be a good trading style specially on news
    I don't really know what is going on, I fixed it previously and it worked, maybe I will have to upload it again and see what happens. Same here, I don't trade on news as well.

    But then, there are some really important event that I do make use of use in managing my positions, when I say I don't trade on news I mean I don't make my decisions based on news, I make them based on the chart trend and the candle stick patterns.

  10. #10
    Quote Originally Posted by splash View Post
    I don't really know what is going on, I fixed it previously and it worked, maybe I will have to upload it again and see what happens. Same here, I don't trade on news as well.

    But then, there are some really important event that I do make use of use in managing my positions, when I say I don't trade on news I mean I don't make my decisions based on news, I make them based on the chart trend and the candle stick patterns.
    Let me check mate, oh I can't see your screenshots too better to talk with Gamer moderator about this. He will solve your problem mate, and its very necessary to add screenshots in your threads because by it we can read and see more clearly and deeply your thread. You can add one more time your screenshots and if they will do not work then you can contact to moderator's.

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