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  1. #1
    Administrator Martin Kay's Avatar

    Recognizing Trends With Japanese candlesticks !!!

    How Japanese candlesticks could help traders indentifying trends

    Originally Posted by Bogdan G. Click here for the full review

    Developed by Japanese rice traders in the 18th century, candlesticks have been used by them ever since and relatively recent they started to receive credit in the Western trading world. Today almost all the charts we see use Japanese candlesticks. Their predictive value is probably the reason for their longevity and their wide use. As we know, price is driven by people and people are driven by emotions; with the help of Japanese candlesticks we can take a peek inside the mind of the majority and gauge the market sentiment.

  2. #2
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    There r many formations and patterns of candle sticks. Some patterns r simple but some r very complex. Actually u will have to make ur own PA strategy which means u will analyze candle sticks in ur own way. If ur analysis is correct, u will be profitable.

  3. #3
    Master Member Bogdan G's Avatar
    Quote Originally Posted by M.J View Post
    There r many formations and patterns of candle sticks. Some patterns r simple but some r very complex. Actually u will have to make ur own PA strategy which means u will analyze candle sticks in ur own way. If ur analysis is correct, u will be profitable.
    Yes indeed, there are many formations of Japanese candlesticks and this article just scratches the surface because learning candlestick patterns is a difficult task for a new trader. Some more advanced patterns will be presented soon, but learning must be done in steps
    Of course everybody needs to find the right strategy for them but you cannot analyze candlesticks your own way because we cannot change the psychology behind them or the rules that are centuries old. A Doji tells a story and I will never change that story to fit my own way.

  4. #4
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Quote Originally Posted by Bogdan G View Post
    Yes indeed, there are many formations of Japanese candlesticks and this article just scratches the surface because learning candlestick patterns is a difficult task for a new trader. Some more advanced patterns will be presented soon, but learning must be done in steps
    Of course everybody needs to find the right strategy for them but you cannot analyze candlesticks your own way because we cannot change the psychology behind them or the rules that are centuries old. A Doji tells a story and I will never change that story to fit my own way.
    Of course I am not saying to change candlestick into some other thing. I meant that there r no hard and fast rules to analyze market through candle sticks. There r some common terms which u have explained in ur article. But when traders start trading, they gradually customize these methods according to their own style.

  5. #5
    Master Member Bogdan G's Avatar
    Quote Originally Posted by M.J View Post
    Of course I am not saying to change candlestick into some other thing. I meant that there r no hard and fast rules to analyze market through candle sticks. There r some common terms which u have explained in ur article. But when traders start trading, they gradually customize these methods according to their own style.
    Agree with you here. When someone can call himself/herself a trader, he/she will know better how to interpret candlesticks and any indicator and will be able to make the difference between a candle that can be traded safely and one that is riskier.

  6. #6
    Legendry Member Michael Hodges's Avatar
    Candlesticks are a great way to look at the markets, they provide a lot of depth and insight. However, they, like every other tool used to view financial markets, should not be relied upon alone as you will get burned.... always seek a convergence of indicators.

  7. #7
    Master Member Bogdan G's Avatar
    Quote Originally Posted by Michael Hodges View Post
    Candlesticks are a great way to look at the markets, they provide a lot of depth and insight. However, they, like every other tool used to view financial markets, should not be relied upon alone as you will get burned.... always seek a convergence of indicators.
    Exactly, Michael, thank you. This is what i've been saying all along, on the forum and in my articles:always look for convergence/confluence of several factors before entering a trade.

  8. #8
    Rookie Member

    Naked chart- Candlesticks strategy - Advance Patterns !!!

    Hi guys. I want learn trade with patterns candlesticks and Support and Resistance only because is very strong and better for me.
    Where I can find this please? And I don't speak of patterns like Hammer, Harami... this is the basic I search more knowledge on candlesticks patterns.
    ( sorry for my english guys )

  9. #9
    Senior Member Grae's Avatar
    Candlesticks offer a remarkable amount of information to the trained eye. Some traders have become adept at reading these charts, increasing their success rates. Traders should learn them well.

  10. #10
    Master Member Bogdan G's Avatar
    Quote Originally Posted by Grae View Post
    Candlesticks offer a remarkable amount of information to the trained eye. Some traders have become adept at reading these charts, increasing their success rates. Traders should learn them well.
    Definitely right.

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