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  1. #11
    Master Member Bogdan G's Avatar
    Quote Originally Posted by Ammeo View Post
    There is a good learning course for Japanese Candle sticks trading on youtube....that could help anyone learn how to trade them.......
    Good to hear that

  2. #12
    Veteran Member uj.forex's Avatar
    I often use price-action theory in trading... and speaking from my own experience, japanese candlesticks / price action theory works BEST in AUD/USD..... sooo good...

  3. #13
    Master Member Bogdan G's Avatar
    Quote Originally Posted by uj.forex View Post
    I often use price-action theory in trading... and speaking from my own experience, japanese candlesticks / price action theory works BEST in AUD/USD..... sooo good...
    Indeed, AUD/USD is a very trending pair. Easier to trade than others.

  4. #14
    Veteran Member uj.forex's Avatar
    once u enter against the trend and hope that Aussie might move back in YOUR favorable direction, then forget it... it most probably wont Trend is your Friend.... ALWAYS...

  5. #15
    Legendry Member willyw's Avatar
    Quote Originally Posted by uj.forex View Post
    once u enter against the trend and hope that Aussie might move back in YOUR favorable direction, then forget it... it most probably wont Trend is your Friend.... ALWAYS...
    Hope will always end up in disappointment. In trading HOPE = HOPELESS. Taking action is better than hoping.

  6. #16
    Master Member Bogdan G's Avatar
    Quote Originally Posted by uj.forex View Post
    once u enter against the trend and hope that Aussie might move back in YOUR favorable direction, then forget it... it most probably wont Trend is your Friend.... ALWAYS...
    Yea, the Aussie is for trend trading, I wouldnt trade against the aussie trend.

  7. #17
    Legendry Member willyw's Avatar
    Quote Originally Posted by Bogdan G View Post
    Yea, the Aussie is for trend trading, I wouldnt trade against the aussie trend.
    AUD/USD WEEKLY as of Wednesday, 16 January, 2013
    AUD/USD weekly prices has set a new 14-period high while the RSI has not. This is a BEARISH DIVERGENCE.
    The ADX is currently below both Plus and Minus Directional indicators. Not advisable to initiate any trades right now. The Directional Movement Indicators (DMI) currently is not indicating a specific price direction.
    Attached Thumbnails Attached Thumbnails aud1.jpg   aud2.jpg  
    Last edited by willyw; 01-16-2013 at 11:31 AM.

  8. #18
    Specialist Member RCox's Avatar
    I would say I am a fan of candlesticks, I dont think I have ever really used other types of charts except when looking at very long term time frames (monthly). When you pull out to view price activity at that distance, you are usually just looking for trend direction anyway and I dont think that specific info (like what is seen with candlesticks) is really as useful. Shorter term, however, its a great way of visualizing what is happening with prices. Mostly I see it as an indicator of who is actuallyin charge at the moment: bulls or bears.

  9. #19
    Veteran Member uj.forex's Avatar
    Could anyone of you believe it that MANY, MANY, MANY traders start watching One-minute chart when the U.S session is about to start ? Because that's the time they look very closely to hammer, shooting star, or engulfing candles where a new direction would start... And of course with their HUGE lots with very tiny stop losses..

  10. #20
    Legendry Member willyw's Avatar
    Quote Originally Posted by RCox View Post
    I would say I am a fan of candlesticks, I dont think I have ever really used other types of charts except when looking at very long term time frames (monthly). When you pull out to view price activity at that distance, you are usually just looking for trend direction anyway and I dont think that specific info (like what is seen with candlesticks) is really as useful. Shorter term, however, its a great way of visualizing what is happening with prices. Mostly I see it as an indicator of who is actuallyin charge at the moment: bulls or bears.
    Regardless of long term and short term, I personally feel that candlesstick analysis is a good analysis to analyze the market. Of course provided that traders can master or know how to interpret candlestick analysis. From candlestick analysis, a trader can analyze serveral signals on the trend, short, mid or long term.

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