Japanese Candlestick Forex Signals

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Japanese Candlestick Forex Signals By www.forexconspiracyreport.com

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http://www.forexconspiracyreport.com/ Japanese Candlestick Forex Signals World and national events drive currency prices up and down. Using fundamental analysis of Forex pairs, traders seek to hedge currency risk and gain profits. However, monetary policy, balance of trade, and employment numbers can be all over the board. How can a currency trader make any money without a crystal ball? Technical Forex trading is the answer for many currency traders. Using technical tools as old and new as Japanese candlesticks, traders read market sentiment. The mantra of technical Forex trading is that the market quickly assimilates changes in fundamentals and speculates on what will come next. By tapping into market sentiment traders can profit when a situation is unclear. Technical Forex Trading of Major Currencies Technical analysis of major Forex currencies can lead to consistent profits. Although major currencies are typically not as volatile as minor currencies, they trade in high volume and high liquidity. These attributes are positives for technical Forex trading. A trader can spot market turnarounds when the overall market seems confused. Using basic technical analysis tools a trader of major Forex currencies can make money day in and day out by simply following the sense of the market and trading accordingly.

Transcript of Japanese Candlestick Forex Signals

Page 1: Japanese Candlestick Forex Signals

Japanese Candlestick Forex Signals

By www.forexconspiracyreport.com

Page 2: Japanese Candlestick Forex Signals

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There are a dozen major Japanese candlestick Forex signals and forty signals in

all.

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Japanese candlestick signals evolved from rice trading in

ancient Japan.

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These technical trading signals are strong indicators

or subsequent market action.

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Their strong advantage is their clarity.

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Japanese candlestick trading signals do not show up every

day in currency trading.

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When they do they are useful in achieving profits in

predicting changes in foreign currency rates.

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What follows is and quick overview of Japanese candlesticks

and then a brief listing and over view of the dozen major Japanese

candlestick Forex signals.

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Japanese Candlesticks

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Japanese candlestick Forex signals are pictorial

representations of price action in the Forex market.

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The day’s trading is represented by a vertical rectangle. This is

the candle. It is white when the day ends higher than when it started and black otherwise.

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Its ends represent the opening and closing prices

for the day.

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Lines extending from the top and bottom of the candle are called shadows and represent

the full range of trading for the day.

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A trading signal can be one or more unique candlesticks. Here are the dozen major signals for

helping predict changes in foreign currency exchange rates.

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Dark Cloud Cover

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This dark sounding name is for a two candle set that predicts a reversal of a

recent up trending market.

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The first day trades up. The second day gaps higher on open

and falls significantly to close slightly above the previous day’s

opening price.

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The Dojis• Doji - virtually flat candle with upper and lower

shadows• Gravestone Doji - virtually flat candle at the

very bottom of the trading range• Long Legged Doji - virtually flat candle with

one or two very long shadows

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The principle information that one gains from the various Doji

patterns is that the market is indecisive. In a flat market this is

useless information.

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In a market that has been trending up or down it is

often a strong indicator of a reversal.

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Engulfing Patterns

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Bullish Engulfing Pattern - short black candle on day one and much larger white candle on day two, “engulfing” the

first candle

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Bearish Engulfing Pattern - short white candle on day one and much larger black candle on day two, “engulfing” the

first candle

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Each Japanese candlestick Forex signal indicates a market reversal in the direction of the

second day candle.

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Piercing PatternThis pattern is a bottom reversal signal. It consists of two candles. The first is long and black. The second is white and starts lower that the first after a gap down to open on the second day. The white candle is as long as the black.

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HammerThis signal consists of a relatively short white candle with no upper shadow and a long lower shadow. At the bottom of a down trend it predicts an upward reversal.

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The Stars

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Morning Star - three candles, first black and long, second small and white below the first, third white, long and higher than the

second

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Evening Star - three candles, first white and long, second

black and small above the first, third black and long below the

second

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Both of these are reversal signals that predict that the

market will move in the direction set by the last candle.

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Shooting Star- a short candle with a very long upper shadow and no lower

shadow

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This signal predicts a market reversal after an established

trend.

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Trading Forex with candlesticks gives a trader a clear view of market sentiment in a set of

very precise market conditions.

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Smart traders learn to confirm these signals before

jumping in.