How many candlesticks would comprise the beginning of an uptrend/downtrend in forex trading?
Question:
Answer:
I use two full candles on a 15 minute chart after a 5 / 8 cross with both moving averages showing a slope of over 45 degrees to give me a fairly good confirmation of a reversal.
Hi,
It depends on particular day's trend in forex market. You can visit http://stocks.advisorinternet.info... for some useful tips and info related to your query. Good luck!
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Candle sticks have some patterns that consist of ONE bar. But these are signals of a strong "maybe"; they signal strength or weakness, not a trend. I don't trade on candles alone; I need confirmation from a moving average before I buy in (or short).
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