Category Archives: Forex Learning
Bullish / Bearish Engulfing Candlestick Patterns
Remember in using this engulfing bullish or bearish candlestick pattern that should be located on supply demand zone. Lets start with engulfing pattern which is considered to be most strong of all in the right place.As it’s a reversal pattern, Engulfing candlestick pattern is most beneficial when there is a up or down trend. It’s for identifying the turning/reversal point. It’s kind of recognizing top or bottom of given up or down trend move. Trends we are talking here is Time Frame specific. You may have many mini trends withing the scheme of larger trends and therefore as you breakdown larger trend there will be many more turning points of mini trends in a smaller time frames.
Supply Demand Trading Concept Still Need To Be Filtered With Candlestick Pattern
Forex trading sometimes is very complicated.Even some traders loss almost their all saving money. Why it can be happened? It’s because some traders only using their emotion on their analysis and forget about money management and off course 90% traders using their instinct. As we know the core of economy market is supply demand. Because of this we have to concern about this supply demand trading concept, but remember this supply demand trading concept still need to be filtered with knowledge about reversal and continuation candlestick pattern. An this candlestick pattern have to be located on supply or demand zone, so not between on supply demand zone. So with knowledge about this candlestick pattern which located on supply demand zone, we can read the power of seller or buyer will remain.
Let Candlestick Tells On Us About The Price
From our experience in trading forex, this candlestick patterns cannot be forget from our variable analysis. This candlestick basics can be read on best time frame at least on four hour time frame. Why have to read on four hour timeframe ? because this four hour time frame give us the best momentum to made decision to enter the market which still have to be filtered by candlestick pattern from daily time frame. So, to read strong support resistance or strong level entry have to be done from D1 timeframe and looking the best momentum on H4 timeframe. This is exactly what we do on every our analysis before made some open position.
Deposit and withdrawal method in every broker still the best consideration for all type of traders. Because fast and best services in this finance department is one of the final parameters on made decision in joining forex broker. Today many forex broker offering the easiest and fastest way in deposit and withdrawal process. Because of this, instaforex offering this many option in deposit and withdrawal method so traders can receives their funds with safe and scheduled.
Trade with reversal candlestick patterns is always made easy for all traders. Why ? Because trade with reversal candlestick pattern give us simplicity analyzing. But, after we study and tested this candlestick pattern, i mean including reversal or continuation candlestick pattern still to be filtered by key level support resistance from daily time frame, so we used this reversal candlestick pattern at least on four hour timeframe.
Some forex traders maybe didn’t know which valid pinbar to trade with. I mean trade with pinbar have to be filtering with right support resistance. But, which time frame we have to drawn support resistance level?. Based on my experience, we can get valid support resistance key level by drawn horizontal line based from 2-5 open/closing body candle in equivalent from daily time frame. This will give us an accurate information about on getting valid support resistance level.
Hey Forex Traders, I just wanted to point out some nice trades that had formed recently on the EURUSD and GBPUSD. Below are some charts with classic examples of some of my price action trading strategies that I use on the 4 hour and daily charts.You will notice the clean simple chart, with no indicators (pure price action). The charts show my “false price action setup” and “pin bar reversal setup”. The current market conditions (at the time of writing) have been “perfect”. If you can’t make money in the current market then you won’t ever make money, this current trend is a “gift”, trade it well.