Monday, May 9, 2011

high profit candlestick signals

5:25 PM  kang dwi  6 comments

When you want to identify high profit candlestick patterns, look for recent reversal and continuation patterns first. Start by reviewing the most recent candles (the last day or so on a daily chart) and work your way back in time. These recent candles are the most relevant and are the best predictors for what is likely to happen next.

Once you have identified a specific recent pattern, look back in the chart history and find similar patterns. Note how the stock or currency responded during those time periods. This will give you a clue as to the potential strength/relevance of the current signal.

view detail: PipHut CandlePro

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6 comments:

I would say that using Candlesticks, you need to use them to identify trend reversals.
Candles like Shooting Stars, and Hammers and Bearish Engulfing patterns are important.
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I see. Using Candlestiks, we have to read the patterns. But, how to read patterns need experience and some tricks and tips. Of course, learning about patterns is most useful, if you want to success in forex.
Regards
forexproducer.com

Very informative post and I agree what auditt05 says "I would say that using Candlesticks, you need to use them to identify trend reversals. Candles like Shooting Stars, and Hammers and Bearish Engulfing patterns are important."

You must be expert in this field to understand candle stick patterns.

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