trading forex with candlesticks
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Trading Forexwith Candlesticks
Bywww.ForexConspiracyReport.com
The fundamentals of Forex trading these days can be very
unclear.
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On the other hand technical analysis remains an accurate
tool for reading market sentiment.
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EU next summit promises no further resolution of the
Euro Zone economic contraction
.
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Will Greece pull it together and abide by its agreement
with the EU in return for bailout money.
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Will Cyprus be next in line for assistance?
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Will the Yuan fall as trade with Europe diminishes?
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Traders may not know all of answers to the fundamentals.
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However, in trading Forex with Candlesticks, traders can
often see where the market is going in a given currency pair.
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In trading Forex with Candlesticks the trader uses statistically accurate pictorial
representations of price movement to predict future
movement.
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Time honored symbols such as the Doji indicate market uncertainty and are a good
predictor of a reversal of a up or down trend.
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The Three Black Crows indicate a reversal of an
upward trend and a Kicker Signal is a strong indicator of a reversal, either up or down.
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The trader does not necessarily need to be an
expert on Chinese exports, European Banking, or the
Bernanke Doctrine in order to make money in trading Forex.
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Trading Forex with Candlesticks gives the trader
insight into the market and these insights commonly lead
to profits.
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Long ago in Japan when there were still Samurai there were
rice traders.
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These individuals learned that certain price patterns in the rice market kept repeating
themselves.
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The traders devised symbols for these price patterns and
named them.
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They found out that by watching the symbols that
their trading was more profitable.
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Over the years stock traders, traders in other commodities, and
Forex traders learned that the symbols devised by rice traders in Japan could be profitably used to predict price movement in stocks,
other commodities, and foreign exchange.
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The Forex trader makes his money by accurately
predicting changes in Forex currency rates.
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It is wise for the trader to be knowledgeable about the fundamentals that drive
currency pair rates.
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However, it is not the fundamentals that initially
drive markets.
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The fundamentals of Forex trading these days can be very
unclear.
www.ForexConspiracyReport.com
Thus, trading Forex with Candlesticks gives the trader insight into what the market is thinking and what the market
will do next.
www.ForexConspiracyReport.com
Trading Forex with Candlesticks leads to profits.
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If Japanese Candlesticks are statistically based why not use any of the many Forex trading programs that are available?
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An advantage to trading Forex with Candlesticks is that the Candlestick signals are clear
and easy to read.
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There is less chance of a trader missing a signal due to an overly complex system.
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In addition, Candlestick signals can be superimposed on stock
charts of varying complexity and used as attention getters among the vast amounts of data that some programs
throw at the trader.
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The point of trading Forex with Candlesticks is the most
profitable trades are the best.
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By sticking with clear Candlestick signals a trader
commonly avoids getting into questionable and usually
unprofitable trades.
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