How do you use candlestick patterns?

TargetSignal | May 03, 2018
How do you use candlestick patterns?

New traders often see candlesticks as a price indication not a trading tool. Meanwhile more experienced traders would often refer to candlestick patterns seeking entry opportunities.

So, how do you use candlestick patterns?

To answer your question, how do you use candlestick patterns, one must look into his own trading style.

Although every trader looks into candlestick pattern formations from different angle (e.g. reversal pattern seekers, continuation pattern seekers, scalpers, etc...) we seek to follow the trend, hence use candlestick patterns to follow the market trend. That being said in this live Forex training, AtoZ Forex Academy Captain Yagub Rahimov and our CTA certified professional trader Mr. Adamos Anastasiou will share their experience and tips on how to use candlestick patterns and even further apply candlestick analysis techniques on live market analysis for the week.

During the webinar we will touch the following subjects:

  • What is a candlestick?
  • How to read candlesticks?
  • Finding support and resistance with Candlesticks
  • Most common trend following candlestick patterns
  • Most common reversal candlestick patterns
  • Most common candlestick trading mistakes
  • Candlestick trading tips & tricks

New Western Candlestick Patterns

Although initially the term - Candlestick - was introduced to the modern trading dictionary from the ancient Japanese rice traders, nowadays western traders keep on coming up with a new list of Candlestick Patterns. Among the list of New Western Candlestick Patterns you can see many creative titles. Traders, meanwhile, enlarge the old school candlestick pattern list as a part of increasing high frequent trading techniques, in order to automate giant-lot orders, millisecond trading techniques, and algorithms alter how, when, and where each tradable instrument is bought or sold.

Most common Candlestick patterns

Click here to zoom in the picture above

The market is also changing drastically, even so that some of the commonly referred Candlestick Patterns from the traditional Japanese Candlesticks rarely form in modern marketplace. Other candlestick patterns as well are also becoming less and less reliable or applicable than they were just couple of years ago.

Among the most recent, New Western Candlestick Patterns you can find: Pole vault, Hurdle, Nesting pattern, Resting day, Springboard, Sandwich.

You do not have to memorize all these keywords, but you have to sign up for |How do you use candlestick patterns?| webinar while we have a few more slots available.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ, nor should they be attributed to AtoZMarkets.