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Thread: Working with the pattern strategy as confirmation supports of options

  1. #1
    Trader lawners1791's Avatar
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    Working with the pattern strategy as confirmation supports of options

    The threads dedicated on discussing of the pattern strategy analytics on referring confirmation to work with the decision on defining of finale on options to work with the trading.

    Ther should be varies of options with the popular patterns formation on working with the occupation on running of strategy as trader might wants to prefers only to work with some of those as to match with the personal preference and more of the customs with the rules on working of the trading plan on capturing short or long and more with the choice on initial qualification with th e variable of analytics as the indicators with the evaluation.

    This is the screen shot as working with the pattern strategy on capturing of the popular DOJI CANDLE with the chart.
    Running of supports indicator from the codebase folder of meta trader on referring the doji candle by the position on chart to refer of ease on capturing figures.

    Attachment 12714

    as my personal prefers on selection i will buy only by the white circle comparing of rests with the red circle as i guess the use on capturing candle on quantifying the high low as to match of the same price with the open close value works of the higher on accuracy as referring of the stronger on supports on working of else as confirming with the different signals.

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  2. #541
    Trader J_C_Anderson's Avatar
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    Candlestick patterns could be useful, but sometimes it could be difficult to recognize them correctly since there are dozens of candlestick patterns. That is why it would take time for the newbie traders to get skills necessary to work with this type of patterns. At the same time, price patterns based on trendlines and support/resistance levels are easier to understand and generate less false signals, so sometimes they would be preferable. It is important to mention that price patterns work best on trending markets while candlestick patterns could be useful even during flat movement without any direction.

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  3. #542
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    Forex trading market is a business that repeats with patterns all the times and the best way to make sure that we remain profitable all the times is learning how these chart and candle stick patterns works and be able to master them over time, because in so doing we shall be able to start following these price action patterns and making money would become so easy. Learning most times the ways of the forex market means understanding the ways through which these candles stick are formed an what they represent as to always understand what the price is likely going to do next.

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  4. #543
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    There are lots of people that trade the doji these days, but I don't think that we need the doji as a pattern confirmation strategy, I have not even traded the doji candlestick before, but I have attempted to trade the pin bar, confirmation is something we cannot do without, we might be trading this market blindly without using it, so for me using indicator for confirmation is better and easier in many ways.

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  5. #544
    Trader pajero's Avatar
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    The doji formation includes a candlestick pattern that only consists of one candle. A doji is formed when the market is consolidating or is uncertain about the direction of the next price move. Here it is clear that bullish and bearish sentiment is in a balanced state. Between buyers and sellers are waiting for the next price movement. The market consolidates and has not determined whether to continue price movements in accordance with the direction of the previous trend, or will make the price move in the opposite direction. Therefore, the doji is considered as a consolidation signal.

    Doji formations usually form at least a few bars after prices move up or down. At that time, there was uncertainty among market participants regarding where to move to the next price move. Prices may move in accordance with the direction of the previous trend, or reverse direction. So, doji formations do not always indicate trend reversal, but they can also indicate trend continuation, depending on the confirmation of the next candlestick bar.

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  6. #545
    Trader Sixteen's Avatar
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    Quote Originally Posted by Leonvic View Post
    There are lots of people that trade the doji these days, but I don't think that we need the doji as a pattern confirmation strategy, I have not even traded the doji candlestick before, but I have attempted to trade the pin bar, confirmation is something we cannot do without, we might be trading this market blindly without using it, so for me using indicator for confirmation is better and easier in many ways.
    Doji is never a confirmation pattern instead we see this candle as an indecision candle which means that this candle does not give us a signal if the market is moving in a bearish or bullish state. The right candlesticks like the pin bars are one of the very confirmation patterns we usually use to trade reversal most times. If the pin bar candle forms at the right level of support or resistance, then we can be able to minimize risk and increase means of earning.

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  7. #546
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    There are many patters in the charts that are helpful for us to know whether the market is trending or is in a rangebound position preparing for a breakout. We have to confirm the situation of market properly before we decide upon taking any kind of trading decisions. Any trader who come to real trade with a good knowledge about it, and has the discipline can succeed in the field of Forex trading and make lots of money.

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  8. #547
    Trader Azis Muslim's Avatar
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    Quote Originally Posted by komalam View Post
    There are many patters in the charts that are helpful for us to know whether the market is trending or is in a rangebound position preparing for a breakout. We have to confirm the situation of market properly before we decide upon taking any kind of trading decisions. Any trader who come to real trade with a good knowledge about it, and has the discipline can succeed in the field of Forex trading and make lots of money.
    Not so many I think because you can not apply them well to trade, at least with good accuracy. Traders who wants to use candlestick patterns to trade must able to locate the working ones with high time frames. Engulfing is one of my very best pattern to trade for reversal and to help me locate my exit in take profit or stop loss. To confirm market support or resistance I just need to draw the lines to connect between market low prices and high prices.

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  9. #548
    Trader pajero's Avatar
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    Quote Originally Posted by Azis Muslim View Post
    Not so many I think because you can not apply them well to trade, at least with good accuracy. Traders who wants to use candlestick patterns to trade must able to locate the working ones with high time frames. Engulfing is one of my very best pattern to trade for reversal and to help me locate my exit in take profit or stop loss. To confirm market support or resistance I just need to draw the lines to connect between market low prices and high prices.

    in my opinion also trading using chart patterns, candlestick patterns and price action will be more valid if you use a large time frame, because a large ditime frame will rarely appear fake signals or noise as if we are trading with a small time frame. But trading large ditime frames requires more patience, of course

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  10. #549
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    Quote Originally Posted by lawners1791 View Post
    the work should had with the chance as trader manages the use of series on stages with the evaluation and the monitoring of the market profile on referring use on distinct on decision to enter by the details on customs with the sequence and choice on pairs as match of best to work along with the pattern strategy on capturing trend directions on reversal movesment.
    i think when we follow any new pattern so we should test it in demo account first as practice can makes everything perfect for our business because you have no other way to survive in the market for long time frame. only success makes possible when you have right decision power and know how candles forms in the market and what step we should take if market can start move against our trade.

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  11. #550
    Trader Yayami's Avatar
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    Quote Originally Posted by pajero View Post
    in my opinion also trading using chart patterns, candlestick patterns and price action will be more valid if you use a large time frame, because a large ditime frame will rarely appear fake signals or noise as if we are trading with a small time frame. But trading large ditime frames requires more patience, of course
    price action strategy is already covering most of candlestick and market patterns so we don't need to make them like they're are different. price action strategy is what traders truly needs for a pure technical trading. this because price action uses all information market has provided to us, with its various patterns like double top and bottom, trending candles, reversals, and much more. guess traders mostly are using this strategy to trade because it gives so many advantages to traders.

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