What is the most powerful Candlesitck Reversal Pattern?

Opinions please everyone.

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This is perhaps the wrong question - “Candle Sticks” do not make price reverse, nor does price change direction or continue it’s direction because of the arrangement of candle sticks.

Candle Sticks are just a different way to display price data, like a line chart, price ladders or bar charts. Then you have your time frames where you’re going to get contradicting “patterns” within the same FX pair.

What really matters is why is a price level likely to influence price, if at all? Personally, if you start off by looking for patterns then i’d be cautious, the markets don’t care about candle sticks or patterns, I can assure you!

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Dammit. This is me!

What do you do then?

Ha. I suppose the point is that we all know that institutions and banks are who move price, not us, right?

I don’t think these guys are sat in their million dollar offices during a pre-european meeting suggesting “Hey guys, I saw a pin bar last night”…

LOL. That’s actually pretty funny imagining it.

All these candles are well documented and there are a lot of eye balls on them when they do form, like most things, they are a self-fulfilling prophecy, the people that move prices don’t care about any candlestick pattern, and the people that care about this stuff don’t move prices.

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i have checked historical graphs,and they do make reversal when on support or resistance.candle sticks are not reliable only in the middle of a trend

What reversal patterns do you like then?

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According to me, the value of the support/resistant level is more important than the candle pattern.

I agree but looking at candlesticks to help me find entry points.

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That’s really great! So, if it’s really working for you; just follow it.

I will :smiley: Thank You

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Always welcome mate! Have a great day; keep hunting green pips.

Nothing for me yesterday during Brexit etc but today I am checking out the charts as we speak :slight_smile:

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I hope; eventually you will be able to make a smart trading skill on news trading. Keep trying your level best.

I am new to forex trading and trading the news scares me lol

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In the beginning stage; it’s very common, mate! So, don’t lose your hope; spend more & more time on news analysis.

I won’t lose hope and going well in my normal trading…just news trading I have always been told to avoid. Interesting that some people trade it.

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A large, long tailed, thin bodied pin bar is hands down the best reversal signal, IMHO. Large 2 bar reversal are pretty good as well.

Amongst the James16 style traders, you should expect pin bars to be mentioned as the best candlestick signal.

According to Thomas Bulkowski it is Bearish Three Lined Strike pattern. I am not a fan of his backtesting methodology so I am sticking with the pin bar. :sunglasses:

http://thepatternsite.com/ThreeLineStrikeBear.html

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Thankyou. I will take a look.

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