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#1
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Candlestick patterns...
Anyone using candlestick patterns to make a trade call...I am also looking for a MT4 indicator which detects patterns such as hammer, shooting star, etc.
Appreciate your input.... |
#2
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Quote:
You may have to adjust the colors in the 'Inputs' tab so the texts show up in your charts;) Egwig:cool::cool: |
#3
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ues i am using candles with successfully
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#4
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Just as with any indicator they can be a help.
Just don't rely on any one indicator by itself. Get confirmation from others and from trends in higher time frames. ;) Egwig:cool::cool: |
#5
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Re: Candlestick patterns...
Quote:
Try the inforex.pattern-watcher.com site. This software watches for 30 currency pairs. Scan on all time frames including 1, 2, 3, 5, 10, 15, 30, 60, 120, 180, 240 and 300 minutes chart time frames. Will look and find 89 different patterns in real-time and notify you immediately. You can also design their own patterns. Best Regards, Gary Frank Lewis |
#6
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Re: Candlestick patterns...
Quote:
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#7
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Re: Candlestick patterns...
Is it also working on the wider time frames. As for me the most effectively cnadlestick patterns can be used on D1...othewise there are just not enough of data.
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#8
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Re: Candlestick patterns...
Strategy in forex works when a lot of people are following it. You have to see the same picture in order to act the same. As for me candlestick patterns are off the table now. I mean, OK, when you have up to 10 patterns, it is OK, but now there more and more formations. Everyone see something else and that is where the problems are coming from.
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#9
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Re: Candlestick patterns...
I have found that candlestick patterns are effective 50% of the time.
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#10
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Re: Candlestick patterns...
Price action is a profitable trading strategy that I always use to bring profit in a short time. For using this policy I selected as my trading platform GCI where I get all time accurate candlestick so it is possible to me to predict the market with certainly. By the way, I always make profit by using this trading strategy with very narrowest spread.
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#11
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Re: Candlestick patterns...
It is actually better you read books on candle sticks rather than trying to short cut your way with indicators.
Trust most candle stick indicators a not worth the time. |
#12
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Re: Candlestick patterns...
I am very lucky to select GCI Financial trading platform where I can trade in my mobile phone due to having automated mobile trading software. So, at any place I am able to carry on my trading that’s really plus point in my trading career. Therefore, I can trade here metal, gold CFDs besides all major trading currency pair in this trading platform.
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#13
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Re: Candlestick patterns...
Candlestick formations and price patterns are used by traders as entry and exit points in the market. Forex candlesticks individually form candle formations, like the hanging man, hammer, shooting star, and more.
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#14
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Re: Candlestick patterns...
I also like to trade candlestick patterns because they are easy to learn and occur quite frequent on 15M timeframe I trade. My favorite one is bearish/bullish engulfing pattern and pin bar I trade on my Hotforex platform.
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