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Profiting in Forex - Steve Nisons
Profiting in Forex - Steve Nisons
By
Overview
Construction of the Candle Line Power of Single Candle Lines Insights of the Candle Patterns Forex and Non Forex Candle Patterns Blueprint for Forex Trading Success
East meets West U i Intraday Using I t d candles dl Money management Trading Psychology The Candlestick Screener Screener
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Shadow
open
Doji
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Whos in control?
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C Criteria
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Spinning Tops
Although g descending, g, the small real bodies offset some of the negative outlook 8
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Doji
Criteria:
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Doji
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S Scenario i 1
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S Scenario i 2
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Doji in Forex
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Doji
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Doji
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Doji as Resistance
Criteria: Use the highest high of those two sessions (top of upper shadow) as resistance Implication: Close over that area: market is refreshed
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Doji as Resistance
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Doji as Resistance
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Shadows S ado s
Remember: location and size of the shadow should be considered when analyzing the market psychology. Implication: Bearish long upper shadow offsets rallying strength. Bullish long lower shadows hints bears losing 23 force.
Bullish Shadows
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Bearish Shadows
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Bearish Shadows
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Hammer
Criteria: Small real body at, at or near top, top of range Lower shadow at least 2x real body Market in down trend Implication: Groping Groping for a bottom bottom
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black or white
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Hammer
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Hammer as support
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Hammer as support
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Shooting Star
black or white
Criteria: Small real body at, at or near bottom, bottom of range Upper shadow at least 2x real body Market in an up trend Implication: Signaling Signaling Trouble Overhead Overhead
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Criteria: very long shadows and lower small real body - color not important Implication: Trend is losing force
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Bull Checkmate
1 of 2
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Bull Checkmate
2 of 2
Checkmate area
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Checkmate area
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Criteria: Black real body wraps around preceding white real body Market in up trend Implication: Bulls Bulls have been constrained
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Engulfing Patterns
Bullish
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Bearish
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Piercing Pattern
Piercing pattern
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Confluence of Candles