hi , I needed some assistance interms of trading please . can You please explain to me what is a bullish /bearish reversal candle and a bullish/bearish engulfing candle and how do you trade on these ? when do you trade on these? Also when one candle closes at the same time another opens so at what exact point after break of the candle on a consolidation pattern or a trendline do you place a trade ? So on a daily time frame uk time - if on a trendline - on the break of a green candle , the next candle would be green as well - will this be your entry point at the close of this candle 10am? My confusion is as one candle closes at the same time another opens - do you not miss the entry point ? and how many hours do you have to place this trade by before you miss the entry point. I hope you can assist me and your help is greatly appreciated. Thank yOU.
Hi, check this information in BP Trader's Guide to Japanese Candlestick Patterns
As for the remainder, you need to do your own research on this topic and draw conclusions. This is the best way if you want to earn money in the long term on forex. Regards Greg
The ideal for for an engulfing candle is when the body of the latest candle engulfs the body of the candle before (the body is the distance between the open and the close of the candle).
Because there are no breaks in forex market trading, meaningful gaps between close and open do not occur. Therefore you should not expect any great and easy success from using engulfing candles in forex trading or in any intra-day trading.
Theres much more to trading than just taking a trade on the above. Best to go back through the School of Pipsology
It seems you’re quite confused which brings me to the question whether you educate yourself with the concept of trading. If not, you should stop everything and learn the concept and fundamentals to avoid the losses and confusion that you face now. You can get a better idea about the bearish/bullish trend and the candlestick patterns in general. Also, your broker can advise you about the next step in your trade in a better way. But first Pipsology school should be your stopover.
I think reading about the candlestick charts through books like Japanese candlestick charting techniques by Steve Nison would help you to understand better about the markets. It will help you to clear your fundamentals in a much better way for the long run.
You’ll definitely get plenty of info here on the thread with replies. I too have been thankful to many traders but the main point is that until you do your own research and find a solution yourself, trust me you won’t be able to grow.
Try going through your educational course once again. You will find the answer yourself. I believe you can.