I recently wrote something on my blog regarding a candlestick recognition chart I use. The responses I got from people were interesting, to say the least. Being a big user of candlesticks myself – they figure highly in one strategy I use, although not all strategies – I was surprised to find that some people did not consider forex candlesticks patterns to be at all important, at least to them in their specific approach to trading.
I was wondering if I could get some kind of indication from other folk here as to whether or not they use candlesticks on a regular basis.
Hope i find you well.I wanted to ask if you willing to share the candlesticks information you have i am still a newbie and looking to see what will work for me seems i cant find a take off
I trade on tick charts. Candlestick formation doesn’t mean a lot down at this level however pin bars and reversal do play a part especially when it comes to closing a trade.
I’m trying to get to grips with candlesticks - they seem to be 1 of the building blocks, so I figure it must be worthwhile trying to get to know them. In my little experience, my best week trading so far was when I traded purely off candlesticks - no fundamentals, no indicators, no s/r - just trying to mark if it was an uptrend/downtrend/ranging, & then look where the candlestick(s) appeared in relation to that.
Hi kechel, I would not trade solely off them, but use them in conjunction with other factors such as time of day/session, pivots etc. But I find them critical to understanding current price action relevant to the time frame concerned.
Hi guys,
I take very serious view with candlesticks and candle pattern a lot. I used a combination of wave analysis and candlestick a lot. I believe I will quit trading if those broker don’t allow us to use Candlestick anymore. LoL.:58:
Each candlestick comprises multiple candlesticks at a smaller degree. This understanding, if sufficiently explored, should result in the successful use of candlesticks for refining an entry.
Absolutely agree. Exploring Candlestick absolutely could bring someone successful in trading. Candlestick are very very useful. Not just an entry, it might also show us if there are reversal, trend strength etc.
Nesting of candlesticks is indeed a useful aspect to explore. It’s known as candlestick addition, what I like to think of as nesting them inside other candles like Russian Dolls.