Daily Practice: find a candlestick pattern
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    Lightbulb Daily Practice: find a candlestick pattern

    Dear traders,
    We already know many candlestick patterns from a variety of sources, including from a thread in this forum. But mostly just discuss the theory.
    As we know many candle patterns that we can find in the market everyday. Some popular ones can be called as follows;
    - Engulfing pattern (bullish or bearish)
    - Dark Cloud Cover pattern
    - Piercing Line pattern
    - Morning Star and Evening Star pattern,
    - Hammer, Hanging Man, Inverted Hammer, Doji.
    - Harami (bullish or bearish).
    - and many more.
    Here I invite you all to identify patterns that occur in the live market (practically), if you found these pattern, please do not hesitate to make screen shoot and discuss it here. Any currencies or metal are allowed to discuss.
    I hope this thread can help us to understand the patterns that exist in the market.

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    Among all these candlestick patterns mentioned above, it is the hammer hat I could find more pronounced, but the issue is that, you can not be seeing the hammer all the time in this market, but you can be seeing it once a while, this is why you can not vow tat it could be traded all the time, it is traded only as the pattern provides it on the chart.

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    Look what candlesticks formed in USDJPY daily chart. As we know that the USDJPY has been rallied over the last few months. Yesterday, candle set up a Bearish Harami Cross pattern, which is a reversal pattern. So we expect USDJPY trend will change, from Bullish turns to Bearish.

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    Practice is most important thing for a trader.if you will spend more time in practice,you will be able to get more profit.hardwork is very important to become a consistent trader in this field.

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    Quote Originally Posted by silverlady View Post
    Among all these candlestick patterns mentioned above, it is the hammer hat I could find more pronounced, but the issue is that, you can not be seeing the hammer all the time in this market, but you can be seeing it once a while, this is why you can not vow tat it could be traded all the time, it is traded only as the pattern provides it on the chart.
    The key is to recognize its formation. If we've been reading and studying these patterns, then it will not be difficult to find these candlestick patterns every day. We do not need to be memorized because the more often we are able to identify a pattern, it will automatically be recorded in the brain. The next time we see the same pattern, the brain's memory will automatically notify its name.

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    Another candlestick pattern appeared on a GBPUSD pair H1 time frame, the candles formed a Piercing Line pattern and its expected bullish reversal on a short term. Since GBPUSD is still on a bearish trend, this pattern may only be a correction move.

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    After GBPUSD rose on Piercing Line pattern yesterday, today at H1 time frame candles formed another reversal pattern at resistance level, which is a Dark Cloud Cover. It seems that the correction move has ended and the pair starts to move in line with its major downtrend, see the attachment below:

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    These are the basic patterns that occur every time but some of them do not show for long time such as the hammer patterns at first it would show up but after some time it would have been changed to normal candle what would have been noticed in higher time frames so I recommend to every new trader that every thing they analyse over the candle sticks they should see it through higher time frames becasuse that shows very precise.

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    Its nice..., I have interested in this topic. Especially about your way in sharing the signals and also explaining the name of each pattern. Okay I will shows the screenshot if I find a valid signals. But honestly mate.... I don't know for sure the name of each pattern. Because I never memorize the name of candlestick patterns. I just know the forms of the pattern.

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    I wonder do WHY most traders try to find for reversal patterns? Statistically it is tough thing to do and will lead to negative performance in a long run. Why not to try to identify trend and work in the direction of this trend?

    Well, I understand logics beyond this. If we see "low" price, it considered as a good opportunity. You forget that only capitalized traders buy "low" and sell "high". In other words, they construct their positions by pieces and can afford to acculumulate positions slowly (not by once) not having stops. They are traders who CREATE trends. But we, retail traders, who must have stops to limit our risk, would better work with the flow, not against it. Don't you think?

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