What is the importance of candlestick?
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Thread: What is the importance of candlestick?

  1. #1
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    Cool What is the importance of candlestick?

    The candlestick is very important indicator in the trading and mostly trader us the candlestick in the trading , i want to know what is the main benefit of the candlestick in the trading and how we use the candlestick affectedly in the trading?

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    i see, candlestick is the best indicator and will move real time based on the market, i ever used some indicators and almost of them just lead me to face some loses, and especially i used scalping for trading, then i leave them and only use candlestick as my best indicator, and combine it with channel,

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    candlestick has some shapes that can help you to predict the future movement of the market like pin bar and hanging man and morning and evening star,and another shapes,so this lets the trader watch the market and wait for the proper time that the market will be ready for the new situation and trade in the proper time and may make a good profits easily

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    Candlestick is like other trading chart representation, except that it is the most widely used among them all, it is good for trading in technical side almost all the things you can think of in the technical trading, that is why traders often prefer to use it to nay other way of making the trading analysis.

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    Candlestick greatly assist us in detail to show the price of the currency pair more easily, candlestick display 4 display the price of the open price, close price, high price, and low price, in contrast to other types of graphs which show the close price on a line chart and open / close price on the bar chart.

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    Candlestick can help to tell a trader certain price behaviors at certain or key price levels there are lots of candlestick patterns but some are more important than the other such as candlestick that show rejected price levels. Just Google about candlesticks to have a better idea.

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    In Forex trading business like other indicators and tools candlesticks are also one short of indication which speaks about the market with its formation but to read on every candlestick one should need to have vast experience and knowledge and if we can read it correctly then we can have profitable trades for sure.

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    Candlesticks is the one of the best charting system and Japanese candlestick pattern system is one of the best and my most favorite trading system. this system have some patterns which help us to predict the future market. like pin bar pattern, morning and evening start pattern, engulfing pattern etc.

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    Candlestick is very important in our life. If we use candlestick properly then we can earn a lot of money in forex market . It needs much practice by the forex trader to earn money. I am using pinbars and outside bars for the purpose of earning money and these are the strong patterns for trading purpose.

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    the most easy way to analysis the market is candlestick. it;s also very simple to use .you can just use your naked eye to determine the trend of the market. every one should learn to analysis this candlestick then he can use other indicator with it and may be he can be successful.

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