Poll: Your Favourite Candlestick Pattern

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  1. #1
    Veteran Member Ammeo's Avatar

    Candlestick Patterns Suck or Rock? !!!

    I thought to make a poll regarding Candlesticks as we are all candlestick fans and use it in our daily trading to identify different patterns. Lets see which Candlestick gets the most votes- my personal favourite btw is the Hammer and the Inverted Hammer.

  2. #2
    Specialist Member runneroption's Avatar
    I voted for the Engulfing Patterns as they are my favorite and best rewarded candlestick patterns.

  3. #3
    Specialist Member marvel's Avatar
    I liked most Dojis. They are clear trend reversal indicator and could be used as a very reliable signals at least for short term balance between bulls and bears.

  4. #4
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Hello.
    I think it was better to give a link to basic information about those patterns. So that novice traders can find out what these patterns r actually. There is an article on japanese candlestick patterns but it doesnt have all patterns. http://www.binaryoptionsthatsuck.com...trading-naked/
    I think another article to explain all these will be a good idea.
    I go for technical and fundamental analysis most of the times and rarely include these patterns in my analysis. No favt so far

  5. #5
    Master Member Bogdan G's Avatar
    Quote Originally Posted by M.J View Post
    Hello.
    I think it was better to give a link to basic information about those patterns. So that novice traders can find out what these patterns r actually. There is an article on japanese candlestick patterns but it doesnt have all patterns. http://www.binaryoptionsthatsuck.com...trading-naked/
    I think another article to explain all these will be a good idea.
    I go for technical and fundamental analysis most of the times and rarely include these patterns in my analysis. No favt so far
    Here is another article on JC: http://www.binaryoptionsthatsuck.com...es-the-sequel/
    There are of course other formations, but these 2 articles cover the basics

  6. #6
    Senior Member Grae's Avatar
    I like hammers. For potential reversals.

  7. #7
    Legendry Member Michael Hodges's Avatar
    I like them all, especially when one confirms another, as in the case of an engulfing or peircing pattern occurring in conjunction with a dragonfly, hanging man, hammer or gravestone. In the end thought I do not trade on candles alone, they are only a way to help me clarify support/resistance areas that I have already targetted.

    How do you guys use your favorite candle patterns?

  8. #8
    Solid Member Murphy13's Avatar
    There are a lot of candlestick patterns but only few of them are really reliable and tradable I think, but in general this is great analytical instrument for every trader!

  9. #9
    Junior Member
    I like candlestick analyses and trade mostly dojis but also some other configurations, with good risk/reward ratio.

  10. #10
    Legendry Member willyw's Avatar
    Quote Originally Posted by Michael Hodges View Post
    I like them all, especially when one confirms another, as in the case of an engulfing or peircing pattern occurring in conjunction with a dragonfly, hanging man, hammer or gravestone. In the end thought I do not trade on candles alone, they are only a way to help me clarify support/resistance areas that I have already targetted.

    How do you guys use your favorite candle patterns?
    Yes its advisable to use candlestick with other indicators to confirm our analysis. If just by using candlestick alone might not give us many trading opportunities but with conjuction with other indicators not only can confirm our analysis and increase our entry opportunities. On the hand, candlestick is a good indicator to use. If traders can master it is a very useful tool to use. I use to use Hagi and 3-line break together with candlestick charts. You guys, especialy newbies, give a try and explore using this charts. You might discover something new. These charts can be use for all timeframes, too.

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