consecutive days and a downtrend is formed. Sitting at the computer for several hours per day can cause physical problems too. It takes 24 hours for each of the candlesticks to form. I check the monthly time frame as well when the new monthly candlestick opens. The stop loss will be at the middle of the candlestick #2 body (because it is a big candlestick with a big body) and the target will be the same as the stop loss size. It is not for making us busy, because it is not a business. I turn on my PC about 20min to half an hour before the daily candlestick close or a while after that. Therefore, each candlestick is the representative of the past 24 hours movements and events.
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Our Trading Software Products, these are our most powerful trading system products that are designed to help you on your Trading Success journey. I love the daily time frame for some important reasons:. Unfortunately making money through these short time frames on such a volatile and liquid market (Forex) that is also noisy most of the time, is very hard, if I dont say it is impossible. . I think I will forget about the daily time frame and will only trade the weekly and monthly time frames when I get older. After such a strong breakout that the candlestick #1 formed, candlestick #2 with its strong bearish body tells me that bears will take the price down. Candlestick #1 and #2 have formed a strong signal that tells me that the market will be bearish at least for the next a few days. And this is a good opportunity to take positions and make some money. Candlestick and Bollinger Bands are all you need to have on your charts. My goal is to convince you to stop using the short time frames like 1min, 5min, and even 15min and 1hr, because it will result in nothing but loss. No commission and no slippage. Nov 21, share, will Your Chart Pattern Turn Into A Painful Trade?
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