Monetary Values that make up Candles

Can anyone point me in the direction as to where i might be able to find out the “Monetary Values that make up Candles”?:confused:

For instance: What actual numerical spread between “open and close” with the length of shadows make up a “Doji”?

Thanks ahead of time!:smiley:

Generally, candles are defined by their shapes, not their sizes.

And candle [B]patterns[/B] (involving two or more candles) are defined by their shapes [B]and by their relative sizes (in comparison to one another)[/B], not by their absolute sizes measured in pips. So, for example, a Bearish Engulfing Pattern is defined by (among other things) the larger size of the engulfing candle, as compared to the “engulfed” candle, without regard to numerical values.

Strictly speaking, a doji has [B]Open = Close[/B], and there is no specification regarding the length of the shadows (wicks). In practice, a spinning top with a VERY small difference between the Open and the Close may also be called a doji. How small is VERY small? That’s a judgment-call. In any case, the numerical value of High - Low, or of Close - Open, is not considered.

Clint

As you learn about forex you will find that it has no empirical
rules, it is more art than science.

That is the reason all traders have losing trades at one time
or another, because the forex market does not respect anything
or anybody.

When learning FX it is good to be presented with an exact model,
it helps the newbie learn, but this has to be honed to suit the
market.

The biggest lesson to learn? How to lose then not blame the
market for that loss, but pick yourself up & move on to the next
trade.

Similar to poker you will have your bad beats but that
does not mean you play those pocket rockets any different the
next time because percentage wise your play is correct.


“There is always somebody who thinks they can ice skate up hill” Wesley Snipes in Blade

:wishes: daydreamerforex

That is one brilliant comment.

All traders, including myself, need to take note of this!! :slight_smile: :wink: :cool:

Clint’s posts certainly show that he knows exactly what he is talking about.
His posts have a ring of authority!! :slight_smile:

I can testify that this is exactly correct without error. :slight_smile: :slight_smile:

[B]Tymen1 [/B]- author of…

http://forums.babypips.com/newbie-island/10812-joy-candlestick-trading-learning-experience.html

AND

http://forums.babypips.com/newbie-island/19339-joy-candlestick-trading-part-2-a.html