Reliable Candlesticks Pattern

Beginner Questions
1

Hi everyone

I am a newbie and this is my first post in this forum. So can someone please tell me the strongest (most reliable) candlesticks pattern for “short” and “long”

thanks
:slight_smile:
Tbone

2

Read Steve Nison or download it.

3

Go to the attached PDF for this researched work done on this very forum… :slight_smile: :slight_smile: :wink: :wink:

(SEE ATTACHMENTS BELOW)

It will give you all the answers you ever need.

THE ULTIMATE CANDLESTICK TRADING METHOD - 2 Levels.pdf (1.76 MB)

4

Thanks a lot Tymen1 — I will be studying your method tonight. I am looking for to learn everything out there about candlesticks… and I was just curious to know what are the most reliable candles in forex. Luck me.:-). I just found one of your old post…

The following are the patterns that I use - I use no other.

These patterns are the strongest candlestick patterns and, therefore, the most reliable.

short

  1. Evening star/evening doji star.

  2. Dark Cloud cover.

  3. 3 inside down.

  4. 3 outside down.

Now for long

  1. Morning doji star only

  2. 3 white soldiers.

  3. 3 inside up.

  4. 3 outside up.

Of all these patterns, the 3 white soldiers pattern seems to be usable anywhere, not just on the Bolinger band extremes.

Attn,: Last question!! Can I apply these pattern only using “S+R lines, trend lines and price action”…?? I want to learn to trade forex without indicators… Please let me know.

Once again, thanks for your help.

God Bless

5

Steve Nison’s books and Tymens PDF will give you all the info you need to know. Great resources

6

Dont´forget ENGULFING pattern

Take a look at today EUR/USD daily chart and you see…

7

All I would say tbone is that if you are going to learn this or tymen’s method, stick with it for a while and learn it properly. All newbies, flip between methods far too often and it leads to their downfall.

8

YES make sure you can recognise the engulfing patterns… they are important.

Cheers :smiley:

10

Candlestick patterns by themselves are more likely a way to lose money. They need a little extra help for consistency. Try using them in conjunction with larger time frames, support/resistance, and a bit of Fibonacci for better results:)

Cheers!

11

you’re giving it for free. thanks for the pdf file. :smiley:

12

I don’t particularly focus on discrete patterns anymore (it’s really a strain on the eyes and the search for them can lead to paralysis by analysis), but the ones I used with good success are morning stars/evening (hammer, top, doji) stars. These work especially well if you can find some symmetry between the first and third candles.

In actuality, though, I find that pretty much all of the established candlesticks can be profitable if you just wait additional confirmation after the formation of the 2nd candle.

13

check mytradingcoach by Lance Beggs. Excellent teaching there.