Trading With Candlestick Pattern

There are more and more variations of candlestick patterns in forex trading, starting from the pattern of one candlestick, two bars, three bars and so on. The candlestick pattern is a type of chart that has long been used in Japan to improve the accuracy of calculating price movements. This method will describe the impact of investor sentiment on prices. This analysis is generally carried out in order to determine the right time, when to enter and exit in trading activities. There are lots of candlestick patterns that are formed, but in general, these patterns can make directional trading. Here are some of these candle patterns.

Doji

This doji candlestick pattern is not much different from the spinning top type candlestick pattern, but this pattern will be a little more complex when compared to the spinning top type itself. This doji almost doesn't appear to have a body, which can make this doji indicate a phenomenon of the inability of market participants, both from the side of buyers and from the side of sellers, to hold control later. So it can be concluded that the doji type candlestick itself is a pattern when the price of a commodity or stock is experiencing a consolidation event. Which will oblige these market participants to wait, observe, and pay close attention to this type of candlestick the next day.

Pin Bars

Pin bar is short for pinocchio bar. The longer the shadow, and the shorter the body, the more valid the pin bar will be considered. Pin bars are widely used in reversal trading strategies, namely predicting a price reversal and using it to open a position as early as possible. Based on the trend, the pin bar is divided into two, namely bullish reversal and bearish reversal.

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