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Are you a candlestick trader?
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[QUOTE="King bell, post: 273348, member: 75687"] A candlestick trader is someone who trades in Forex currency markets, using candlesticks to predict market trends. The basics of this type of trading are quite straightforward: if a market opens and closes with a large body part above the previous day’s close and both sets of shadows on the same side, then there is likely to be upward pressure on that currency. One issue many traders have is being able to read what the candlesticks are telling them. Another issue is when they look at the candlesticks, they find that the large bodies of the candlesticks are in different colors and it is not clear what the future direction might be. Here's a simple way to identify these problem candlesticks: If a trader is using a 20-period moving average for their swing trading strategy, then these problem candles will generally appear as swings or whipsaws or have periods that are clearly wider than expected. This signal is particularly strong when profits are taken on any trades. [/QUOTE]
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