Trading Techniques Using Candlestick Patterns

Over time, there are more and more variations of candlestick patterns in forex trading, ranging from one candlestick pattern, two bars, three bars and so on. Candlestick patterns are an ancient Japanese diagramming method for increasing calculation accuracy. This method reflects the impact of investor sentiment on prices. This analysis is usually done to determine the exact time when to enter and exit a trade. This method "must" be understood by traders because it is one of the smart strategies in investing. However, it still needs to be noted that the analysis with this pattern is included in the directional category. This means that this analysis also relies on the trader's subjective intuition in understanding various patterns. This method can produce consistent profits if it is accompanied by the trader's experience and flying hours.

Marubozu

This Marubozu candle pattern occurs when there is a full body without a shadow. This form indicates a market that is very confident (confident). Usually the trend that occurs will continue. There are two types of Marubozu, namely Marubozu White (bullish) and Marubozu Black (bearish).

Doji

This Doji candle pattern is the most common and easiest reversal pattern to find, which is a type of candlestick where the opening price is the same or almost the same as the closing price, so only a thin line is visible in the middle of the shadow. Doji usually indicates a change in trend, either bullish or bearish. So you need to be vigilant if you find a Doji.

The existence of a Doji candle gives the possibility of a reversal. The longer the doji's tail, the stronger the probability of a reversal.

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