Are there any candlestick patterns working for forex trading? Experiences?
Recently i started to examine candlestick patterns as a trading signal for forex trading. I used talib for evaluating candlestick patterns occurrences and also different candlestick time bases ranging from minutes to days on several majors (EUUSD, JPY/USD, USD/CND, USD/GBP, EUGBP), but till know I found any edge. Is there somebody running any profitable strategy based on candlestick patterns? Have you any recommendations for improving my strategy? Do you believe that there can be found any edge and if not why?
Candlestick patterns can be used to detect and confirm key forex formations, many of which have been mentioned in this book already e.g. retracements, reversals, breakouts and fakeouts etc. I make great use of candlesticks to help determine and distinguish between reversals and retracements. A perfect hammer in Forex is the same as in any other market: its tail must be twice as large as the length of the body and the body has to be near or at the top of the candle. This means it can ... Forex indicators. forex binary options strategy . best forex indicators. Check here above doji pattern indicator arrow for sell trading with 100 pips market target. Forex Candlestick Patterns– indicator that use for Metatrader 4 (MT4) or Metatrader 5 and most imported of the forex indicators Forex candlesticks provide a range of information about currency price movements, helping to inform trading strategies Trading forex using candlestick charts is a useful skill to have and can be ... Candlesticks build patterns that predict price direction once completed. Proper color coding adds depth to this colorful technical tool, which dates back to 18th-century Japanese rice traders .
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