Candlestick Charting 

Common candlestick patterns tutorial (and Short-selling Gold?)

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Hi guys, fast & fundamental explanation for the most usual candlestick patterns that indicate fad turnarounds.

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12 Thoughts to “Common candlestick patterns tutorial (and Short-selling Gold?)”

  1. Rafał Szajbe

    Is there any method of measuring ratio between body and shadow of candles that can ensure us that we see hammer or shooting star actually? Cause there’s a lot of situations these hammer/star candlesticks are not that clear

    1. dobe4ever

      there are basically three types, shooting star, hammer & doji. They are what you see, if you can’t not identify the shape easily on a hammer for example, it’s probably not a hammer, just a regular candle with no data for you to read…

  2. kindke

    Hi Dobe,

    I think these candle patterns thing are a load of rubbish, if you look to the left of todays shooting star candle there are 2 other shooting star candles yet no downtrend, infact price continued to move up

    as I said before if a prediction cant do better than 50%/50% guessing, I.E. it cant beat random then it has no value.

    1. dobe4ever

      That’s the reason you never trade based in one single indicator… Japanese candlesticks are very popular, every trader looks at them, if they were not more effective than 50-50 they wouldn’t be as popular among traders, right?

  3. game palace palace

    Its not worth the risk for 5%, I guess Cryptos have spoiled us but 5% is nothing .

    1. dobe4ever

      5% in gold in a matter of days is not bad, there is also big chance for it to go all the way down to the next support at $1130… The risk is very low in fact, nothing like in cryptos…

  4. LadyBoyCity

    i dont want to sound offensive but could you say TA is quite overrated in the current climate of crypto? since it seems everything it just moving based on news at the moment..
    no amount of TA would be useful in the last couple dips unless, anyways just curious for a counter . thanks!

  5. Gustavo Teodoro

    Hi dobe, just sold my ETH yesterday, for 320 USD (pretty much broke even from june), hopefully it was the right move, some people are saying China ban is fake news, I feel like there’s a battle over the news, but I still think we’re on a down trend, ETH is forming a descending triangle, and if u watch the daily candles u can see a double top at around 400. Do u think ETH might drop to 220-250? Thank you.

  6. ALLIWANT

    Hey great insight! What software do you use for analysis? Cheers

    1. dobe4ever

      hey thanks, I chart at tradingview.com

    2. ALLIWANT

      Thank you! 🙂

  7. j locksmith

    Do you use these candlestick patterns to enter trades? Or you enter without confirmation? Thanks in advance

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