I do admit to that being an emotive headline. Still hypnotized by the power of a good candle combination.
Traders either love them or loathe them, there really doesn’t seem to be much middle ground .
I use them .YES I’m out the trading closet at last. I feel they have got a bad press in trading circles as taking them individually.- hanging man (not exactly the epitome of non sexist) and his friends have seemingly gone out of fashion as our platforms can plot ticks, volumes, market maps et all.
I would invite your comments dear readers, on the reliability and relevance of candles in today’s ever evolving markets. and leave you with a purist candle set-up. I always like to view candles as a combination, rather than an individual pointer on a timeframe .
An example of a block candle pattern on AUDJPY with the ‘mean reversion’ resistance ( in candle terms) based on the daily candles at 88.77 . Pointing to a dip/short trade under the 88.35 area.
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