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

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    Registered user Azis Muslim's Avatar
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    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.

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  2. #11
    Registered user Azis Muslim's Avatar
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    It seems like there are no much visitors around. Come on guys, write down things in your mind about my thread whether it is good or not bad at all. All critics and suggestions are welcomed by me here, so feel free to write your thoughts. And do not forget, leave a thumbs up if you like my thread and its content that I have been described. Thanks before that, guys.

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    Registered user Silhouette's Avatar
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    i love the candlestick analysis and the screenshot gives some detailed information about each and every patterns, which is bullish or bearish. i wish i could follow the contest if there's still more time. good luck to you dude, thanks for referring me to this great forum.

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    Registered user layigold's Avatar
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    What a brilliant contribution and great thread this is ! Candlestick pattern is the premises on which price action trading system revolves and that is why it always put a trader on a better edge in the market. Your thread has really given a comprehensive explanation with the aids of pictures on different types of candlestick patterns.I am a price action trader, and your thread has even opened my eyes to see some patterns that I seem not to have fully mastered before. Having a thorough understanding of this can obviously increase the learning curve of a forex trader.

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    Registered user somebullado's Avatar
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    the currency table helps with the chance as trader to gains of confirmation as entering within the range of timelines as the market open to leaves with the offers on trader to work with the manage of the trading as collecting returns of target pips to complete as those by the plan of trading projects.

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    Quote Originally Posted by layigold View Post
    What a brilliant contribution and great thread this is ! Candlestick pattern is the premises on which price action trading system revolves and that is why it always put a trader on a better edge in the market.
    Candle sticks plays a major and important role in studying the price action and take our trades based on that. In trading we have to be sensible and for that we must first make a good analysis and trade it without emotions. If we let the emotions dominate us in the market, we are going to lose all our money.

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    Quote Originally Posted by ANANDCHENNAI View Post
    Candle sticks plays a major and important role in studying the price action and take our trades based on that. In trading we have to be sensible and for that we must first make a good analysis and trade it without emotions. If we let the emotions dominate us in the market, we are going to lose all our money.
    It is what the price action is always about, because it is going to be the candlesticks that will point to traders what to do in the case of the price action trading, as the trader will be looking more on the pattern then the candlesticks are playing, and they will sue that to analyze the market in the most meaningful way possible.

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    Registered user layigold's Avatar
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    You have really done a nice job and to say the truth , it is not very common to come across a wonderful and beautifully looking thread like this. I will only tell those who are just developing interest in trading price action that they will need to get more confirmation before the place any trade based on seeing a particular pattern. Doing this would give a trader a better edge in trading. I am a price action trader and I really commend you for this thread , in fact it is a job well done.

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    Quote Originally Posted by Sylvertee View Post
    It is what the price action is always about, because it is going to be the candlesticks that will point to traders what to do in the case of the price action trading, as the trader will be looking more on the pattern then the candlesticks are playing, and they will sue that to analyze the market in the most meaningful way possible.
    Price action is the way that you can adopt for your analysis for opening and closing trades. In case of any unseen loss we must have the stop loss for protection. Management of money also an important part in investing in forex. Most of the people in the lust of earning profit invests their whole amount and due to this they lost their entire amount.

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    Quote Originally Posted by layigold View Post
    You have really done a nice job and to say the truth , it is not very common to come across a wonderful and beautifully looking thread like this. I will only tell those who are just developing interest in trading price action that they will need to get more confirmation before the place any trade based on seeing a particular pattern. Doing this would give a trader a better edge in trading. I am a price action trader and I really commend you for this thread , in fact it is a job well done.
    It is good to make sure you are doing trading very well, the analysis of the trader is the main thing that will get them to make success. We have to secure the best trading ways through the right work on what we analyze, and even without confirmation of what we are doing, we can still make the good return out of the market.

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    candlestick is my favorite chart because it has good candlesticks patterns that give good confirmation and signal for trading, some of the shapes of candlesticks are bearish and help the trader to take the decision of selling, and some of the candlesticks are bullish and so it help the trader to take the decision of buying.

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