Japanese Candlestick Forex Signals
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Transcript of Japanese Candlestick Forex Signals
Japanese Candlestick Forex Signals
By www.forexconspiracyreport.com
www.forexconspiracyreport.com/japanese-candlestick-forex-signals
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.