single candle on your chart is telling you a story. The more recent the bounce the more important. Gbpusd eurusd usdcad usdchf audusd nzdusd gbpjpy eurjpy audjpy usdjpy However, I often have extra pairs on my list that I monitor. After a preceding trend stalls at support, and indecision forms, you often see a reversal trend. The main objective is to preserve capital until more positive price trends reappear. Advanced candlestick analysis goes much deeper than that so that you have a full understanding of what a chart is telling you.
This happens all the time on every Forex pair and in every financial market for that matter. Thinking about candles as just patterns is counterproductive.
It can mean a lot of different things. But there is one more thing we need to look at The indecision candle is forming on top of a resistance area. But first, we need to define some rules for support and resistance areas. This is not candlestick analysis, it is pattern recognition. The only thing I place on my charts is support and resistance areas. This damage is a result of not having the discipline to wait for high-probability setups to appear, and not being able to properly read a markets price action to determine whether or not its trending. They are common, but if used in the right way, they can be very powerful. Sellers took control of price and pushed it down. Where to Set Your Target Targets are also very easy, you need to make sure your target comes before major barriers like the next area of support or resistance. Resistance is a sell area as sellers are found at resistance. Traders may use other indicators showing where price may go next or what it should be but as a general rule these should be disregarded. Price Action, strategy, my, forex price action strategy was born in 2005 and has been constantly improved over the last 12 years this strategy has seen it all.