Technical analysts in the Forex market found that by observing the candlesticks patterns, there are recurring patterns on the candlestick charts.
Such patterns are like recurring pictures on the candlestick charts and they tend to occur when a trend is about to end or reverse its direction.
The patterns are a very good visual representation of the price movements and it give traders a good view of what is likely to happen next in the market.
Why are candlesticks patterns important?
The answer for this question is quite simple because candlesticks represent true status of what is going on in the market at the current moment.
If a candlestick range is tight, this means that the market range for the trading day was very tight .
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2 comments:
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