Why it is necessary to get a grip of candlestick patterns ?

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  • Sep 24, 2017 at 9:01 pm #1018
    zee
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    • 30

    If you are to become a professional FOREX trader then you must get familiar with at least few candlestick patterns. These patterns are extremely helpful in understanding the existing price movements in the market as well as forecasting future price movements. Big White Candle, Doji Man, Inverted Hammer and Hanging Man are among the popularly used candlestick patterns in FOREX. Each candlestick pattern is defined by preset rules; hence, it is usually very easy to understand and use such patterns in order to make more informed decisions when making real-time trades.
    I will try to discuss few candlestick patterns in more detail in future posts. However, it should be understood here that candlestick patterns can have their own limitations. Hence, they should be used only after getting adequate knowledge and experience regarding how FOREX market works. These should not be solely relied upon for professional trading.

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    Nov 20, 2017 at 7:23 pm #1374
    FXGuru
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    • 443

    Yeah, I also believe that candlestick patterns are awesome if understood accurately. It’s not just about the professional trader, as even as newbies, it is almost a very starting part that you learn about candlestick patterns, as it is something that will help us lifelong.

    I learned about it from Babypips.com, it took me nearly 8 months to complete their course, it had guide about these patterns as well. However, I be very honest that I do keep a sheet of these patterns with me, as to avoid any confusion.

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    Nov 25, 2017 at 7:08 pm #1442
    FXGuru
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    • 443

    When I started learning from Babypips, I found this the most interesting thing to learn. Although, I can say that it is not easy and you got to have sharp memory for it, but I know this very well how much it can reward us. So, need to work out carefully, it can be really rewarding but ONLY if one clearly understands the concept and whole thing.

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    Dec 9, 2017 at 5:22 am #1637
    OctaFX_Farid
    Participant
    • 28

    To be very honest, I consider it weird if anyone says no, it’s not necessary. As it is the way through how you get into learning things. I mean, if you are doing studies, it starts with K.G, Class 1, 2, 3, etc.

    And, if anyone skips that then it is weird and you just are not in right shape to go ahead. So, that is exactly what Candlestick pattern learning is.

    We have to learn it on our way up, I see no other option if we are to become serious in trading.

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    Feb 17, 2020 at 5:50 pm #2297
    FXGuru
    Participant
    • 443

    We need to have great level of education to manage these kind of patterns. I find it easier with help and support of FreshForex broker thanks to their superb Educational Setup, where everything is explained well and through which one is able to gain and move towards making better decisions.

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