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Learn How to Read Forex Candlestick Charts Like a Pro

Or is it just denoted by the time frames? In figure 5, we can see two different Candlestick patterns triggering two different trades. Formation of a simple or complex Candlestick pattern during such market condition confirms and verifies the impending contrarian price action for the trader. So when you are reading candlestick charts, you need to keep in mind which Candlestick patterns indicate additional bullishness and which ones indicate further bearishness, as well as which ones indicate a rather neutral market condition and act accordingly. They help traders to differentiate pause in the price movement from its complete reversal and show that upon breaking out of the pattern the price trend will continue in the same direction. Not Helpful 2 Helpful 0.

How To Read Charts Like A Pro Your guide to reading stock charts! Courtesy of speproin.tk You may distribute this book FREELY or use it as part of a commercial package as long as this page and notices are left in place. The content of this e-Book is not warranted for correctness, and is used by the reader at his or her own will.

Bar Charts

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Continuation Chart Patterns

Both the bar chart and the candle chart contain the same data: the high for the period (the day), the low, the open and the close. In a candlestick chart, however, the names are changed. Candlestick charts can play a crucial role in better understanding price action and order flow in the financial markets. Reading a Forex Chart with Candlesticks. Before you can read a Candlestick chart, you must understand the basic structure of a single candle. Before we analyze charts and look for stocks to buy or sell, let’s explore several basic questions: what markets to trade, how to manage risk and why keep a trading journal. Where will your trading profits come from? The money you hope to take out of the markets currently resides in other people’s accounts.