Candle stick charting for trading
Candle stick charting for trading
Candle stick charting for tradingI'll show you how to spend less than 20 minutes a night finding candlestick trades that are at the point of making a move. No more wasted time just staring at chart after chart wondering if you are going to get it right! No more wasted time spent just looking at hundreds of charts a night that have no potential trades at all!In this way, both continuity and sustainability can be addressed and learning charts. If one person can help traders learn to trade then profits can be obtained.
When we enter into a long trade in the forex or stock markets, we want to buy at the strongest level of demand in order to have a high probability for success and make money. Most forex or stock traders think incorrectly that all turning points where prices rose will act as demand. We need to be selective in our trading no matter what market you trade. We want to find the strongest levels of demand usually a green candle for the best forex or stock trading opportunities. Those strong levels identify themselves in the way that price leaves the level. Green candles and volume will be a key entry area for a trade.
Think of a glass filled with water. If you grab hold of the glass and it is filled with lukewarm water, you will be able to hold the glass for as long as you'd like. However, if you grab a glass filled with scalding hot water, you are likely to let go of it very quickly this can be the same when exiting a trade too soon. Demand levels work the same way and reading the charts correctly will help you in making the safest trades. If prices enter that area and then move sideways or slowly leave the area, there is not strong buying pressure there and it is a weaker demand level. However, if prices barely enter demand and move quickly away, there is strong buying pressure there and you want to use those areas as buying points in the future. It also depend on the time frames you are trading. In the forex markets if you day trade then you need shorter time frames.
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