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Thread: What is candlestick strategy?

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    What is candlestick strategy?

    I have saw candlestick pattern charts in mt4 but i can not get to have a best strategy on them to trade, please someone indicate me a strategy to use over candlestick charts.

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    Candlesticks are like My girl friend while I am trading and I just love and keep improving all the time when I used them in the overall context of the price action Not all candlestick patterns are reliable but one those after breakouts of flags and wedges are really completing the pattern specially when it is at daily low out of bear trendline or EMA test in a strong trends really filter you trends with the Help of moving average But you need to practice overall patterns and price action to master the candles as only candles are not reliable because in strong bear trend one large bullish outside bar does not means trend change it could be due to news or taking out the stops or start of a tight channel after that spike .

    regards

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    candle strategy is used for some who watch signal from candle formation, I like to trade buy or sell if some bull candle engulfed by bear candle so I choose to sell and after some profit I just close immediately and if there is some bear candle engulfed by bull candle I will enter to choose buy. This is example of candle strategy.

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    A trend line is one of the simplest tools in the trader’s tool kit. To draw a trend line that indicates an upward trend there must be at least two points which the trend line runs through where the second point is higher than the first point. Similarly, to draw a trend line that indicates a downward trend there must be two points which the trend line touches where the second point is lower than the first point. The upward trend line is drawn through the closing lows and the downward trend line is drawn through the closing highs. The reason for this is that the trend line is in the case of an upward trend the support level and in a downward trend the resistance level.

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    I am a fond of candlestick pattern.Because it is more useful than any indicator.I can not identify with my eyes which candle was make in last hour.Thats why i arrange a good indicator which can identify easily above 70 pattern.In candlestick pattern has 3 types of pattern.Bullish pattern,bearish pattern and some pattern can be bullish or can be bearish both.

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    Quote Originally Posted by mirajul266 View Post
    I am a fond of candlestick pattern.Because it is more useful than any indicator.I can not identify with my eyes which candle was make in last hour.Thats why i arrange a good indicator which can identify easily above 70 pattern.In candlestick pattern has 3 types of pattern.Bullish pattern,bearish pattern and some pattern can be bullish or can be bearish both.
    Candlestick charts can also be drawn more colorfully by using the classical Japanese candlestick chart colors of red and black, red can be used instead of the white candlestick. This could be especially useful for computer displays of the candlestick charts. The obvious problem with this color scheme is that photo copies and most computer printouts will not be useful since all the real bodies would come out as black.

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    In mt4 i have seen the candlestick chart. there are two color of candle.one is bullish and one bearish.I collect a candlestick pattern book but still now i can not identify the last hour candle name.Need help from expert about it.

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  8. #27
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    I guess your referring to candlestick patterns,its a very popular trading trading strategy and getting resource on them wouldn't be an issue, candlesticks patterns strategy can be found everywhere on the internet, just Google it and am sure there are threads in this forum talking about candlesticks patterns, there are plenty of candlestick patterns so I'll adivce that you select the essential ones in other not to get yourselve confused with bulky information.

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  9. #28
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    at the time of mordanization and world e commerce candlestick is one of the major invention & it also a guidance and trade management. It has several advantages .

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  10. #29
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    Quote Originally Posted by isirajul509 View Post
    In mt4 i have seen the candlestick chart. there are two color of candle.one is bullish and one bearish.I collect a candlestick pattern book but still now i can not identify the last hour candle name.Need help from expert about it.
    it is actually not so difficult to identify candle stick chart patterns and since you have the book already just study it and i am sure you will eventually understand how to use candle stick. It is also advisable that you get a mentor or teacher in your town to put you through.

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  11. #30
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    Sir candlestick pattern is related to read price action in the market but first of all you should have knowledge of candlesticks I will suggest you to focus on demo learning to know about candlestick pattern within few hour you will never be able to learn about candles it will take at least 2,3 month to learn well about candlestick so be focus on demo practice it will give you good help.

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