The last four blog posts have educated some of the important patterns of candle worth understanding in the role of a Forex trader. With eight posts in past week, nearly candlesticks, we are nearly ready to continue for resistance and support. As a covering for nowadays, I have a desire to offer you certain rules and regulations for trading the formations of candlestick.
In this video below you can see basic how to recognize bullish and bearish candlestick patterns :
No matter whatever may be the formation of Forex candlestick or any other pointer your trade is based on, you need to follow certain rules and regulations to make sure that you make sound judgments while dealing, that one is doing trade depending on the reasons of education and at the time of working equity management. These guidelines are applicable if you are specifically trade a morning star, tweezer top, evening star, tweetzer candlestick pattern.
• Look for all the resistance and support lines.
• Find and also draw all the trend lines.
• Look for a convergence
• Trade in the way of a trend
• Wait for trading until a market bounces at a convergence for making a trade
• Purchase at an opening of the following candle after morning star has been totally created. Sell the opening of following candle after an evening star has been totally created
• Set a shielding stop losing order at resistance or last level or at the latter support level.
• Never trade morning stars and tweetzer tops if costs are in alliance
In video below you can learn step by step how to trade using candlestick patterns. This is long video :