About the Candlesticks, Chart Patterns, and Price Action category

With so many chart patterns out there, things can get confusing. If you have any questions about technical analysis, chart patterns or price action, this is the place to ask them!

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Please I am very new to forex. Still trying to understand certain terms. Please what is the meaning of price action?

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YouTube is your friend. A lot of professional traders base their strategy around price action

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Hello house I have been trading for a while now but I am still not quite at the level I had hoped to be. I get so turn around at times and I havencome to believe that price does not always give you warning before it start trending an example is GBPUSD 15-08-2018 to 31-10-2018 I was looking towards a gatley or crab pattern but with price so close to 161.8% fib level I was.waiting for a signal On H1 or H4 but surprisingly price just skyrocket leaving waiting saying it will come back time give a signal

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Call it what you will, its all price action. a candle is simple a graphical representation of that price action and each candle ha a story of its own to tell, and a few candles together make up a pattern.

A guy named Thomas Bulkowski wrote the Encyclopedia and included percentages of this candle or that pattern. For me to be trusted it must have over a 75% percentage of success. To that end, there are only a few basic patterns and candles.

However, Steve Nison gets most of the credit for this education.

At the beginning of the session, PA can only go three ways, up, down and sideways.

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I am a newbie going through the school of Pipsology. There is a quiz on chart patterns at the end of grade 7 and I think question 5 must be a writing mistake. The way the question is formulated the answer should be (I think) either a triangle or a pennant but neither is proposed as a possible answer. FWIW.

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It’s just reading what has happend by looking at candlesticks

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Price Action is a theory of market behavior based on the psychology of the traders, market makers, and the market itself. It attempts to explain the volatility of the market without news, indicators and other external factors.

The main tool of Price Action are the charts of the currency pairs and the patterns on them.

The Price Action traders analyze those charts to gain insight into the market and predict future events.

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Hello, my name is Moisés, I am from Brazil Rio de Janeiro, I am a beginner, I do not speak English but I use the translation tool, I learned a lot with the school baby pips through a book I gained from a friend, I intend to deepen and become professional, thank you all and a hug!

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Please I’d like to learn about pitch fork patterns any ideas?

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Basically you are interpreting what’s happening on the charts through interpreting the candlestick patters. Now the candlestick patterns reflect the trading decisions of both sellers and buyers

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Well put! Price action with volume profile has always been part of my technical analysis… and probabilities!

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could you tell me a good channel about forex on youtube ?

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WicksDon’tLie

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Well candlesticks chart is very easy to understand. It describe complete detail about Forex Trading current position. Candlesticks chart includes two bars one label with Green Color and other with Red Color.

Bar with Green color show increase in Price over the time and Red color bar named Bearish Candle used to represent Decrease in Price over the time.

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Sure the are the simplest I guess.
Doji candlestick appears on the trading chart when the market opens and closes at the same price level. It simply means that the market is uncertain if the buyer or sellers are in control.

But there is a variety of Doji with various meaning on each. For now, let us know what usual Doji looks like:
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I have a question how all those lagging indicators work in real-time if they only show things historically

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bro i dont think its good to use indicator. you got to learn to watch out for price action.

You asked a good and legitimate question. Indeed, charts only tell us what had happened in the past, but they won’t be able to tell us what is going to happen next. All price patterns, formations, etc, are just names created and conclusions drawn by the respective chartist to satisfy their own imaginations. They are just illusions, don’t waste time on identifying them!

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I mean Ive been getting into nice entries based on looking at past price levels of S&R, so looking to the past can help you determine where price will react at in the future.