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I was just curious what other people have to say about their favorite candle patterns and which works best for them. I personally trade the shooting star pattern (when the market is not trending) as I have had much luck with it compared to other setups. I Was curious If anyone uses any other types of patterns they'd like to share. Feed back always appreciated .
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
Can you help answer these questions from other members on NexusFi?
I am not a candlestick pattern guy. I prefer just simple PASR.
If you are a patterns guy, you can check out some of Suri Duddella's webinars on futures.io (formerly BMT) or buy his book which may be helpful, it is a reference of all popular patterns.
I would also recommend the book Evidence Based Technical Analysis by David Aronson to give you a different view.
Which thread or journal in your opinion would best describe the methodologies for PASR trading? If that is too ambiguous, do you have a journal of your own where you demonstrate such trading? Thanks
R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
In a recent survey about webinars, a lot of members expressed interest in learning more about the elusive "price action" that many traders talk about and refer to.
It is my intent with this thread to try and document price action from my point …
I welcome any feedback, comments and suggestions for improvement.
Please discuss the PriceActionSwing (PAS) indicator in this thread. Any comments or suggestions are more than welcome here. If you have a more private issue send me a PM or better an …
I started system trading in 2010 but I want to learn to trade by hand and eye too. So I'm going to launch headlong into it - price action will be my method and the spot Euro will be my market.
As a mechanical trader, I thought previously that discretionary …
To use candle stick patterns, you would need to know the probability that a specific pattern leads to a upward or downward price movement. It is also important to understand the context (trend, range) of each pattern to trade it.
There is a small study available by Thomas Bulkowski, who has evaluated 103 different pattenrs and published the results
The problem with candlesticks is that some of the pattern are two well known, and that the behaviour of traders applying them can be exploited. Not sure that there is a real edge.
I like to trade the pin bar candlestick reversal pattern as shown here at key areas and in the direction of the primary trend. It's a key pattern that clearly denotes trapped traders.
The report only shows a few significant patterns, but the result is highly dependant on the trading costs that were assumed. Trading futures may involve lower costs, and some of the patterns might pass the cap.
In any case it is not easy to make money with candlestick patterns alone. Additional filters would be required.