I’m learning about fibonacci sequences and how to discover certain candle stick patterns in charts. Are there any online training materials to help gain some experience in identifying these patterns?
The most thorough source on candlestick patterns is thepatternsite.com by Thomas Bulkowski.
But as we’re working in forex, relying his data and conclusions has to carry a very big proviso - many of the best candlestick patterns rely on an opening gap where price opens higher or lower than where it immediately previously closed: this doesn’t happen in forex.
Also, all candlestick research is based on the daily time-frame: transferring it to shorter time-frames is based on faith rather than evidence.
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I think it won’t be difficult at all, you can use any search engine to find articles on this topic. Anyway, you’d have to look at a lot of information and opinions to figure it out completely.
You have chosen a successful indicator or system that really helps you analyze the market and assets from different groups.
In fact, there have already been a lot of discussions about it, I think you can find something useful…
While price gaps are not common in Forex, they certainly do happen. I have reviewed many of Bulkowski’s patterns and do not recall there being a necessity for a gap to occur. Ibelieve the patterns are equally valid in all ime frames. The important point is to trade on the time frame where you find the pattern.
Good choice, I wish you success in the world of trading!
Maybe you have any specific questions about this strategy? Because it’s not really hard to find the data. But maybe you have some questions about the practical application…
Send screenshots if you need help…
It’s become very popular lately, so I think you can find video reviews on this topic at any broker, and on YouTube you can find a lot of videos, where traders with experience show how to apply it in practice.
Price action is a good strategy in Forex trading. The maximum trader price also uses one. With this price action, if the market context is used properly, the trading results will change. Context gives an idea about the momentum of the market. It is possible to trade professionally by using support/resistance with these 2 things.
The more knowledge you gain about trading, the more profit you can make. As a trader, I always spend a lot of time collecting knowledge and information. It is possible to develop as many skills as you can practice.