What is a candlestick and how to analyze market movements with a candlestick? - Page 3
Page 3 of 67 FirstFirst 12345671353 ... LastLast
Results 21 to 30 of 667

Thread: What is a candlestick and how to analyze market movements with a candlestick?

  1. #1
    Registered user Azis Muslim's Avatar
    Join Date
    Sep 2013
    Posts
    5,462
    Promo (¢)
    900
    Thumbs Up
    Received: 278
    Given: 190

    What is a candlestick and how to analyze market movements with a candlestick?

    Hi guys: hi:

    First of all, I thank you for all the staffs at RoboForex forum for organizing this extraordinary contest. I am very fortunate to be one of the clients here and become a member of this forum by sharing all of my experience from my early career started in forex till now.

    As we know in general, for a beginner it is very difficult to do this business because they do not know many things about this business. Beginners usually have some questions for them and they're trying to get the answer. As traders who have struggled and fought for years, we here should help them to find some solutions of their problems. Of all the important things about forex, I will personally explain 2 questions for the beginners based on my own story.

    1. What is a candlestick and how to analyze market movements with a candlestick?
    Candlestick is one of three charts available in metatrader4 which has a shape like rod - candles. Candlestick also can be used as a technique to map and read the price movements of stocks, commodities and forex. This technique belongs to a group of technical analysis and it is the oldest technique created by Munehisa Homma (Japan, 1724-1803).

    It is far easier to read candlestick's pattern than reading the price through bar charts and line charts. We can adjust the color of the candles, for example red color for bearish candles and green one for bullish. I will describe 2 patterns, they are bearish and bullish.

    a) Bearish Patterns
    If we look at some of the patterns below, it is a sign the market will move to follow the trend of bearish or declining. The patterns consists of:
    Bearish III, Bearish Harami and Cross, Dark Cloud Cover, Bearish Engulfing Line, Evening Doji Star, Evening Star, Gravestone Doji, Bearish Separating Line, Evening Window Star, 3 Bullish Soldier, Inverted Hammer, Shooting Star, Long Upper Shadow, Tweezer Tops and Hanging Man.

    b) Bullish Patterns
    If we look at some of the patterns below, it was a sign the market will move to follow the trend bullish or ascending. The patterns consists of:
    Bullish III, Bullish Harami & Cross, Piercing Line, Bullish Engulfing Line, Morning Doji Star, Morning Star, Dragonfly Doji, Bullish Separating Line, Morning Window Star, On-Neck Line, 3 Bearish Soldier, Inverted Hammer, Long Lower Shadow, Tweezer Bottoms, and Hammer.



    In addition, I would add some patterns that provides excellent results when I was trading using this technique about 1 year ago. Check this out.




    2. How to determine a suitable time for trading and what is market hour?
    Each time has different value of movements, depending on how many market participants were active at that time and the extent of the ongoing economic activities. Some countries have peak hours each of which affects the movement of its currency. For traders who likes a busy time, a suitable time is when economic activity is underway which led to high price volatility. While traders are more relaxed, they will choose a time when all activities reduced economic activity which caused sideways in the market.

    I think you got the answer, right mate? Yes, everything depends on our trading styles. For example, if we are scalper, we will trade in rush hours when market moves in high volatility. Here's the picture about market hour.




    I think that's all from me. If there is any error in the explanation of what I wrote and explained above, I apologize to you. Everything I shared here based on my experience and am still in the learning process. Because for me, learning is an endless process in my life. Thank you for your attention mate. Hopefully this can help the beginners to know this forex business well.

    Not allowed!

  2. #21
    Registered user
    Join Date
    Jun 2016
    Posts
    205
    Promo (¢)
    120
    Thumbs Up
    Received: 2
    Given: 0
    Candlestick helps us to analyze market situation to the best of our ability.It shows clearly the bullish and the bearish prices,when to buy and when to sell.It also allows us tosee clearly the movement of trade in 5,15,30,60minutes and the 4 hours time lag.Point of entry for trading is made easier and the support and resistance levels clearly understandable.

    Not allowed!

  3. #22
    Registered user shambca7's Avatar
    Join Date
    Jun 2014
    Posts
    2,072
    Promo (¢)
    1,110
    Thumbs Up
    Received: 71
    Given: 139
    Of course sir we can use them in long term time frames and those can give us very good buy and sell signals in long term time frames. Furthermore we should not depend upon along we should use technical analysis in our trading to make a good use of candlesticks. The combination of these two would make our trading very convenient for us.

    Not allowed!

  4. #23
    Registered user
    Join Date
    Jun 2016
    Posts
    266
    Promo (¢)
    60
    Thumbs Up
    Received: 2
    Given: 0
    Azis muslim, good fellow, what a beautiful work you have brought to the forum today by getting us to know and understand what candle sticks are and the function they play in our way to success in this business, i have taken a very close look at what you have posted here and it is like you just brought back to me most of those things i have learn before but have forgotten and you have just refresh my mind on how to recognize both bearish and bullish candle sticks,thank you very much.

    Not allowed!

  5. #24
    Banned
    Join Date
    Jan 2014
    Posts
    4,945
    Promo (¢)
    0
    Thumbs Up
    Received: 125
    Given: 262
    Yes candlesticks is best buddy, there are so many threads from where you can get the information of candlesticks patterns in the forum, and this one of the best best thread of them. Aziz have so many creativities in this threads and he is one of the valuable member in the forum. This is seeming a good set of bullish and bearish candlesticks and it would be very helpful for our learning.

    Not allowed!

  6. #25
    Banned
    Join Date
    Jan 2014
    Posts
    7,034
    Promo (¢)
    0
    Thumbs Up
    Received: 212
    Given: 392
    Yes you are right sir there are so many member's who have good threads in the forum, almost all have their own creativity and its a good thing that they all are giving best to share their knowledge with others. Candlestick chart pattern is one of my favorite pattern also and I am also using so many candlesticks to get the double confirmation in trading such as one single bar, brs complition, elephant bar etc.

    Not allowed!

  7. #26
    Registered user cutiekc's Avatar
    Join Date
    Dec 2013
    Posts
    23,508
    Promo (¢)
    2,685
    Thumbs Up
    Received: 158
    Given: 236
    The candle stick is what I make use of when trading, and believe me, it is the best ever, but then before I was able to find it as being the best, I have spent good amount of time learning and getting how to know how the market works. Forex trading is one of the best business and we have to learn and practice it on the demo account first.

    Not allowed!

  8. #27
    Registered user
    Join Date
    May 2016
    Posts
    234
    Promo (¢)
    1,616
    Thumbs Up
    Received: 8
    Given: 1
    candlesticks patterns are very using for now, and it's wise to learn carefully these patterns and be familiared with on your charts while trading, it's a basic knowledge that every trader must know and practice. candlesticks patterns are used with others tools like supports and resistances levels or momentum to be more significant in the trading aspects.

    Not allowed!

  9. #28
    Registered user cutiekc's Avatar
    Join Date
    Dec 2013
    Posts
    23,508
    Promo (¢)
    2,685
    Thumbs Up
    Received: 158
    Given: 236
    The candle stick pattern is more like the real indicator of the market, it tells on where the market will be heading at, we need to have the knowledge of how it works, so as we can use it in making money from the market. Furthermore it works good but like any other trading strategy, when we don't learn and master how it works, we will make a whole lot of mistakes, leading to loss.

    Not allowed!

  10. #29
    Banned
    Join Date
    Jan 2014
    Posts
    7,034
    Promo (¢)
    0
    Thumbs Up
    Received: 212
    Given: 392
    Yes you are saying right about it the candlesticks patterns are the real market movements signals for us and that's why in price action so many trader's want to use the candlesticks chart pattern to buy and sell in forex. But we have to make sure that broker is correct for us when we are making a candlestick analysis, because there are so many broker's who can provide you wrong candlesticks chart patterns, they want to cheat you. But if you are working with robo forex broker then you are a right place to do analysis with candles.

    Not allowed!

  11. #30
    Registered user
    Join Date
    Aug 2016
    Posts
    378
    Promo (¢)
    0
    Thumbs Up
    Received: 2
    Given: 0
    I don't know why but like the Japanese candles in particular I like trading with haikenashi indictors for simple and very effective and powerful instrument of trades and if you have to adjust you can fix them to color that you think will work best for you this way trading becomes increasingly fun and functionality as a way of investment

    Not allowed!

Page 3 of 67 FirstFirst 12345671353 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •