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How to read Candlestick ?

Discussion in 'Beginners Bootcamp' started by Jack Francisco, May 4, 2012.

  1. Jack Francisco

    Jack Francisco Private

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    Hello... Do someone know how to read candlestick and brief me about it. Thanks
     
  2. f-man

    f-man 4Xangels Representative

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  3. Black Bird

    Black Bird Corporal

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  4. ladytrader

    ladytrader Private, 1st Class

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    There's also other site you may find useful:
    Google.

    You will find a little text box in there. Try writing what you're searching for there and then reading all about it.
     
  5. FringFX

    FringFX Sergeant

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    Reading a candlestick is really easy.
    you just need to know the 4 pieces of information each candle shows: the OHLC or the Open, High, Low, and Close.

    Once you know that, you just need a really substantial amount of screen time to identify the patterns that can be associated with reading them.
     
  6. Ifmyante

    Ifmyante ReadTheMarkets.com Rep

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    Be careful about putting too much importance on one particular candle

    Far more important is being able to read the story of price - has price in the past been decided to be too expensive/cheap at this level? How far to the last decision point on the way here?
    Study supply/demand and price action, and you'll begin to easily see the relevance of candles

    Best

    If
     
  7. dkami

    dkami Sergeant

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    This may help you a little View attachment (2) Three Powerful FOREX Price Patterns.pdf (please only try on DEMO)

    One more important thing to remember different brokers open and close at different times for eg. H4 candle will close with one broker and another broker the H4 candle will only close 1hr later
     
  8. FringFX

    FringFX Sergeant

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    That won't matter much. Reading price action is much more important.
     
  9. dkami

    dkami Sergeant

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    Am I missing something?

    The question was how to read candlesticks!
     
  10. FringFX

    FringFX Sergeant

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    I was referring to this bit

     

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