After watching lots of Youtube videos and reading books online I found understanding price action is very important.
I search on youtube and watch hundred+ videos about price action. I thought most of the videos are very basic and most of the trader know about it. They are all like same.
I want to learn some advance price action story. I mean behind the story of every candle.
I want to learn something step by step. I thought I complete the basic level of that.
read the candlestick trading bible if you haven’t already, it breaks down the anatomy of a candlestick and the different candlestick patterns/formations
I think to learn about candlestick price action, as first thing that should to learned is about the shape of candlestick, like as type doji candle, hammer and hanging man, engulfing candle, shooting star, etc, these are basic education to learning candlestick pattern, while advanced learning later can learn more about Elliott wave theory, trading with pin bar, demand and supply and so on
Candlesticks are the most basic of the treading fundamentals, they are the road signs, stop go yield, and yes speed limit. They and there patterns provide direction of the market, consolidation, bull or bear.
You don;t need to know all of them just a few basic candles and patterns to trade the highest probability trades.
Many years ago at a trading expo after attending a Steve Nison session, i asked him privately that these candlestick observations were designed for EOD (end of day) analysis… and therefore should only be used for that. He told me that was indeed the case and they do work best on daily charts. but he wouldnt sell so many courses if this was public knowledge. Just bear that in mind when you are relying on these patterns on intraday charts.
