Forex Do’s and Don’t’s

Categories: Forex Trader's Journal

Forex Dont’s
1) Don’t trade when price whipsaws (candle – long tail, small body in middle [45 pips, 35pips for JPY pairs])
2) Don’t trade gap-ups and gap-downs
3) Don’t trade if candle stick pattern shows over-bought or over-sold (long candle sticks)

Forex Dont’s 1) Don’t trade when price whipsaws (candle – long tail, small body in middle [45 pips, 35pips for JPY pairs]) 2) Don’t trade gap-ups and gap-downs 3) Don’t trade if candle stick pattern shows over-bought or over-sold (long candle sticks) Read More

Basic Candlesticks 5 - Morning Star, Evening Star and Shooting Star

Categories: Candlestick

Today we are going to introduce a group of stars, namely the morning star, evening star and the shooting star
Morning Star
The Morning Star is a bottom reversal signal. Like the morning star, the planet Mercury, it foretells the sunrise, or the rising prices. The pattern consists of a three day signal. A large black body […]

Today we are going to introduce a group of stars, namely the morning star, evening star and the shooting star Morning Star The Morning Star is a bottom reversal signal. Like the morning star, the planet Mercury, it foretells the sunrise, or the rising prices. The pattern consists of a three day signal. A large black body followed by small body black or white, that gaps below the black body. The third candlestick is a white body that closes into the black body. It ... Read More