ph ppt 3.23.11 3 candlestick patterns
TRANSCRIPT
CFTC/NFA Disclaimer
Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the
futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures, stocks or options on the same. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past
performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT
REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN > EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN
MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT
OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL, OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE DISCUSSED WITHIN THIS SITE, SUPPORT AND
TEXTS. OUR COURSE(S), PRODUCTS AND SERVICES SHOULD BE USED AS LEARNING AIDS ONLY AND SHOULD NOT BE USED TO INVEST REAL MONEY. IF YOU DECIDE TO INVEST REAL
MONEY, ALL TRADING DECISIONS SHOULD BE YOUR OWN.
Daily Market Analysis Daily Strategy Analysis (Live FxAlerts)3 Candle Patterns – Learning to Read with Complexity and LimitationsMarcello Ducille’s Underground System DemonstrationQuestion & Answer Session
Forex Candlesticks
There are a nearly infinite number of chart patterns with an equally long dictionary of nomenclature, but among the most commonly recognized are the essentials of Japanese candlesticks. We have covered a few of these, continuing today with a few 3-candlestick patterns.
Courtesy of google images
Morning & Evening Stars
The morning star and the evening star are among thee more commonly used 3 candle patterns that you usually find marking the end of a trend. They are reversal patterns that can be targeted through these characteristics:
The first candle is bullish and part of a recent uptrendThe second has a small body, thought to represent some indecision in the market. The third candle is felt to be a confirmation that a reversal is in play, as the candle closes beyond the midpoint of the first candle.
Courtesy of google images
Soldiers and Crows
The 3 white soldiers are formed when three long bullish candles follow a downtrend, signaling a reversal has occurred, note a signal of something that has really already occurred. The 3 black crows form the mirror pattern of three long bearish candles following an uptrend, again signaling a reversal that has already occurred.The strongest set of this pattern is generally felt to exist when the third candle is the same size or larger than the second candle's body with a very short shadow
Courtesy of google images
Three Inside Up or Down
The 3 Inside Up formation is considered a trend-reversal pattern that is found at the bottom of a downtrend indicating that is possibly over and reversing. It is generally defined by the following characteristics:1st candle: found at the bottom of a downtrend and is a long bearish candlestick. 2nd candle: should make it up to the midpoint of the first candle or beyond3rd candle: closes above the first candle's high signaling a confirmation that buyers have likely overpowered the strength of the downtrend
The 3 Inside Down formation mirrors this a the top of an uptrend to indicate likely reversal to the bearish direction.
Courtesy of google images
Closing Notes
Though candlesticks are the base of communication and interpretation for most Forex traders, their interpretation can be as complex as one’s own imagination.
The key is to find what works, test it thoroughly and stick to it!
Are you part of the FxEdge Family? Become a Fan of myfxedge.com on Facebook and get free tips!
Are you part of the FxEdge Family? Become a Fan of myfxedge.com on Facebook and get free tips!
Get Your Profit in 2011Get Your Profit in 2011
http://myfxedge.com/get-a-membership/
