Forex Breakout & Forex Strategies Revealed

Showing Tag: "candlestick-chart" (Show all posts)

: Engulfing Bullish:

Posted by tushar chatterjee on Monday, May 30, 2011, In : Technical analysis 
PATTERN: Reversal

TREND: Bullish

RELIABILITY:Moderate

How to identify it:

·  A long black day occurs

·  The second day is a white that completely engulfs the real body of the first day

 What it Means:
Occurring in a downtrend, the Engulfing depicts an opening at a new low, followed by a

high buy-in that closes at or above the previous day's open. This signifies that the

downtrend has lost momentum and the bulls may be gaining strength. The Engulfing

indicator is also the first two days of the Three O...
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: Hammer / Dragonfly Doji Bullish:

Posted by tushar chatterjee on Sunday, May 29, 2011, In : Technical analysis 

PATTERN: Reversal

TREND: Bullish

RELIABILITY: Low / Moderate


 How to identify it:
·  Small real body at the upper end of the trading range

·  Lower shadow at least twice as long as the real body

·  No (or almost no) upper shadow

What it Means:

There is a sharp sell off after the market opens during a downtrend. However, by the end of

the trading day, the market closes at or near its high for the day. This signifies a weakening

of the previous bearish sentiment, especially if the real body is white (...
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candlestick patterns introduction

Posted by tushar chatterjee on Sunday, May 22, 2011, In : Technical analysis 
All of us know about the candlestick method of charting. In my last post. I have shown u how to plot a candlestick bar. The components of candle stick bar is quite similar to that of an OHLC bar, and I am sure that many of u wonder why should we prefer the candle stick bar against a simple OHLC bar? I did so in my early days


Its true that candle stick bar and OHLC bar are made from the same data, but the position of candle stick bar in the chart itself tells us about the possible way of future...
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