past 24 hours, it can be assumed that it will follow a definite trend and move in a similar fashion. All trading patterns made up of 1-2 candlesticks would lose their significance if during current movement (trend or correction in price movement) this pattern applied more than once. If after receiving of the candlestick signal, the movement in the market does not confirm it, then the trend will probably flow in the opposite direction. Low of the first Engulfing pattern must not be renewed, moreover - the more remote the price, the stronger a trading signal. This demands the use of charts and plots as these are capable of providing substantial information in a small interval of time. From the mathematical expectation prospective, the «free candle» forex candlestick trading is sufficiently effective, if the deals are not made too often and only in reliable configurations.
Make use of bearish market with forex candlestick analysis
Candlestick, patterns, technical, analysis, freshForex
The most reliable Japanese candlestick signals appear on Daily timeframe. A good moment for the entry when it comes to candlestick strategy trading in regard to main currency pairs appears within 15-30 minutes after the European session opening, when the market direction has been determined. The signal is confirmed: it can be Doji candlestick pattern or one more Engulfing pattern in the same direction. Trading period: the European and the US trading session. Candlestick patterns enable a trader to determine the market situation as well as supply and demand balance. Together, candlesticks analysis in forex represents the relationship between high, low, open, close of market" for that particular interval of time. For a short position (sell) a «free bearish candle» should be fixed below the moving average. Candlestick charts were first used by the Japanese to observe price variation of their rice. General remarks regarding candlestick trading, if you prefer day trading, being skeptical to indicators, then Japanese candlestick forex trading strategy would meet your expectations. In short, candlesticks analysis forex helps you in accurately forecasting the market and put in timely orders.
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