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    Page 148 of 148 FirstFirst ... 143 146 147 148
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    Thread: Candlesticks and its strategy

    1. #1471
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      Quote Originally Posted by PhantomTrader79 View Post
      I partly agree on that. I think that candlestick was and is still an indicator. In the trading world people are dealing with time and price and normally you have to plot everything on the XY axis to mark the price and time and then on a separate note we have to take note of the amount of supply and demand. Now because the price is moving so fast these days where in a minute there can be too many price to mark (imagine plotting 500 price movements in a single minute on your chart) that is why the candlestick is used as the default way to put the price and time into a single time capsule displayed on the chart.
      I think you said the truth. In math class you plot the price on Y axis and then other thing on X axis and this is taught in every school in the world from elementary school to college to doctorate.
      So the idea of putting candlestick is really unique to the Japanese people hundreds of years ago and it's normal for us today when we see it on our chart.
      Traders don't know the future that is why traders need market scenarios.


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    3. #1472
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      Great and very impressive a thread. At the same time since candlestick/pattern is not enough fir trading it is ok to introduce basic knowledge of chart pattern and the use of one or two indicators for a better guide for a newbie. many a time newbies can get tempted to jump into the application of half-knowledge.


    4. #1473
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      well , i also add this , the candle stick have its own strategy that would allow you to trade without indicators which so called "price action " strategy . all what you need to do is to follow candle stick patterns . i can say that it is such a very useful strategy in order to make a consist profits . welcome to this section , with you the best good luck .


    5. #1474
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      You cannot use Candlestick as your a standalone tools you still needs another tools at least a trendline, Support/Resistance, Fibonacci Retrachement, etc ...
      Simple Is The Best


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      Quote Originally Posted by Arief Makmur View Post
      You cannot use Candlestick as your a standalone tools you still needs another tools at least a trendline, Support/Resistance, Fibonacci Retrachement, etc ...
      I agree with you brother. I think candlestick is good for forex traing but we need to add something indicator so we can make good trade.
      If not then we make loss. But if add indicator then we will see the market good with entry signal and exit.


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