Know Your Candlestick Patterns

What Do These Different Candlestick Patterns Tell You?

If you don’t know at all, or were never absolutely sure, I have a great site for you.

First of all let me say happy new year to everyone, I hope you all had a safe and fun New Years Eve. Me I went out with my lovely girlfriend to her sister’s house and drank the night away, boy do I have a hang over. Anyway, back to the Forex. I’m sure most of you will come to a point and say, hey, there’s a pattern emerging here when it comes to candlesticks and the movement of currencies in Forex. You might hear someone say “evening star” or “double bottom” or “hammer” and want to know what it means and how it is pertinent to price movement over a given period. Well,I’m about to turn you on to a free site that I first came across a few months back. I know some of these patterns already, but I never knew with as much certainty as I did after reading through FxWords.com’s section on Japanese candlestick patterns.

From their own words, can’t describe it better: Candlesticks provide unique visual cues that make reading price action easier. Trading with Japanese Candle Charts allow speculators to better comprehend market sentiment. Offering a greater depth of information than traditional bar charts - where the high and low are emphasized - candlesticks give emphasis to the relationship between close price and open price. FxWords has broken down each known pattern and weighted it’s importance and reliability (STRONG, MEDIUM, LOW) and given examples of how you can respond if you see the pattern starting to emerge.

So, if you have a minute check it out. You won’t be sorry. I was thinking about printing each pattern out and pasting them near my monitor, but I might run out of room, not too big in my dank dark basement dungeon, moohaha! Have a productive New Years everybody.

Site: FXWORDS.com
LINK: http://www.fxwords.com/j/japanese-candlesticks.html#intro