More Candles for Forex Mastery
Get Ready For the Reversal
When trading the forex, you need to be aware of some other candles. If you thought that you could get by with just the doji and spinning top, you’ll be hammered fiercely by trades that will most likely end up on your gravestone (perhaps this is why the patterns below have such cool names?)
Since these candles reveal potential trend reversals, you need to be able to spot these formations instantly.
“Other forex traders know these patterns, and now you will need to commit them to memory (or else get wiped out on a major portion of your trades.” Brian Campbell – Rapid Forex
Trend reversal candle signals
Trend Reversal Candle Signals
- The Hammer
- Dragonfly Doji
- Gravestone Doji
- Full Body Candles
In addition to doji candles and spinning tops there are several other single candlesticks that can reveal information about market sentiment.
Specifically, the following candles can suggest an impending reversal: the hammer, the dragonfly doji, the gravestone doji, and a full-bodied candle.
Learning about these patterns is crucial for your success as a forex trader. For more information, visit Baby Pip’s quick guide to forex candlestick patterns. I’ll also be blogging a lot more about candlestick patterns for the rest of my life on the rapid forex blog.
Tomorrow I’m going to show how these candles combine to form patterns – including the famous morning star candle pattern, which is a great opportunity for you to get in on an uptrend!
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Tags: brian campbell, candlestick patterns, dragonfly doji, gravestone doji, hammer, rapid forex, spinning top, trend reversals Posted in
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Rob on
April 15th, 2010 at 5:31 am
I’ve worked with many different fx systems and realised that the most effective approach to succeed is always to make currency trades on your own. Of course this involves lots of time and also work, however it worth every penny. Personally, I like daytrading tactic with stoploss. My experience shows that it can be quite efficient.
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