Steve Nison Candlestick Pattern 1
With Steve Nison candlestick pattern 1, you’ll learn how to read candlestick chart patterns correctly from the first Westerner to introduce the concept of candlestick charting.
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Take a position only when you know your profit goal and risk limit.– Antoroy
Making a profit
You can easily place a forex or comex trade in the foreign exchange market. As the Candlestick pattern used in trading is very similar to those found in other financial markets like the stock market, if you have any experience in trading, you should be able to pick up this technique using the videos.
Japanese Technicals in candlestick pattern
We show in this video that candlestick charting, the oldest known form of technical analysis, is not profitable in the Japanese equity market over the period 1975-2004. Candlestick Technical Analysis, which was developed in Japan in the 1600s, is deeply entwined with #JapaneseTechnicals in candlestick pattern culture and is very popular worldwide. There is no evidence that candlestick technical trading strategies add value either in the entire 30 year period or in three 10-year sub-periods or in bull or bear markets. Steve Nison explains the candlestick pattern for beginners in daytrading in this video.
Anatomy of the candlestick line
Candlesticks are made up of two parts: the body and the shadow. Candlesticks show us a price bar with an opening price, a closing price, a high price for that time period, and a low price for that time period.
The body of the candlestick displays the open and close prices, while shadows at the top and bottom show the high and low prices during that time period. Hence, these are called candlesticks because the shadows look like wicks.
The color of the body of a candlestick indicates whether the candlestick is showing a bullish or bearish price movement. The candlestick’s body is white if the opening price is less than the closing price (different software uses different colors, the most common being green or blue). Longer the white body, the bullish it is. In the end, a very long white body or bar indicates that there was aggressive buying (greed) at that time.
If the opening price is higher than the closing price, the candlestick body is black (different software uses different colors, with red being the most common). The longer the black body, the more bearish the candlestick. The long black body or bar indicates that there was a lot of selling (fear) in that time period and in the end the bears won.
Candlesticks can be classified as real body candlesticks or no body candlesticks (also known as Doji). Candlestick charts show a lot of information about the psychology of the traders trading that particular stock at that particular moment in time. You can see the struggle between the bulls and bears and the outcome. In some cases, it is possible to predict the next price move accurately based on this struggle and the recent history.
Technical analysis attempts to predict price reversals.
Money Management Techniques
For profiting in forex and stock markets, money management techniques are used. In candlestick patterns, money management technicals are essential. Money management techniques are used to manage your investment money.
What is a candlestick
Candlesticks are used to display price movement information about an asset. Candlestick charts are an important part of technical analysis because they enable traders to interpret price information quickly and with just a few price bars.
Why do the smart traders use candlesstick for trading?
Candlestick charts are preferred by most traders because they can be used to: Determine the current state of the market at a glance. By observing the color and length of a candlestick, traders can instantly determine whether the market is strengthening (becoming bullish) or weakening (becoming bearish).