Trading candle stick reading, anyone?

mamahdedeh

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Quote from: oktana on January 22, 2020, 03:53:33 PM

reading every chart / candle must understand trading indicators, you can start from studying that section because it is the most important basis.

it's not easy to just study theory, it's better to understand it when you are in an open position and then start choosing the TF you want to use, if you understand this basis then you will easily determine the strategy you want.

knowing various types of candle sticks does help to analyze the market. but I don't think we should rely too much on candlestick patterns, because not all are true. therefore we must have some consideration of the indicators, so that our analysis will be even more valid

marilynmanson21

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I suggest you see it on YouTube, there you will see the theory and practice firsthand, so that it will make it easier for you to read charts in trading, but first you must pay attention when learning to trade, you must learn the trading management first, because that is the foundation, and I'm sure there are lots of videos on YouTube about that.

inoes

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United Crowd

cryptocurrency candlesticks and stock (forex) trading candlesticks are different. cryptocurrency has a different pattern in the market because crypto prices could double, or even go down much worse in a short period of time. Trading strategies by reading on candlestick patterns are visual. So you need to pay attention to the pattern to analyze the continuation or reversal of the trend.

oktana

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reading every chart / candle must understand trading indicators, you can start from studying that section because it is the most important basis.

it's not easy to just study theory, it's better to understand it when you are in an open position and then start choosing the TF you want to use, if you understand this basis then you will easily determine the strategy you want.

electronicash

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its hard to learn it. indicators are always going to be used to confirm where exactly the trend may go. so while they notice where the candle sticks open and when it closes, its always going to be accompanied by the indicators they knew well. the ones who learned it are from the old markets which they can even speculate by the price action. these are the guys who crunches candles sticks all the time in the morning, afternoon and even while they sleeps. try going to babypips.com forum because its where those people are.

VDraci

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Even if you know how to read candles what about market sentimental? You have to know about that too, determination and persistence is what you need the most, you will definitely lose some money when experimenting with trading but in time you will get better

bamboylee

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Quote from: Mighty_crypt on January 18, 2020, 11:37:27 AM

Any information or source about how to read candle sticks? Some few traders are able to take advantage of recent bitcoin ups and downs, e.g 8800- 9000 bitcoin movement and they have been making gains from this ups and down, any info will be appreciated thanks

It is called technical analysis. You can use the site shared below. It is being shared in a filipino stocks trader group to train newbies in stocks trading. It is free. Though it is used for stocks trading, the same principle can be applied in bitcoin trading.

https://zerodha.com/varsity/module/technical-analysis/

mr_random

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Reading the price candles is not hard but it is all about practical exercise. You can learn the methods of reading with the help of trading books but screen trading time is essential for trading the naked charts. Without trading indicators, it is not easy for unskilled people to read it.

btcdie

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Quote from: Mighty_crypt on January 18, 2020, 11:37:27 AM

Any information or source about how to read candle sticks? Some few traders are able to take advantage of recent bitcoin ups and downs, e.g 8800- 9000 bitcoin movement and they have been making gains from this ups and down, any info will be appreciated thanks

You mean trading short-term and only technical analysis. maybe the risk of losing more, because the average trader is attacked by his own emotions. crypto is very difficult to predict, especially in the short term. Most traders' analysis to predict at a certain level takes time, until the target is reached. Short-term trading is only less profit, and makes me dizzy, resulting in uncontrolled emotions that ultimately loss. I tend to look at fundamentals and wait for the targets I want, then get out of the market. For information on reading candles, I think you can learn it on any platform, and I caution that it's not entirely accurate.

makolz26

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Quote from: gabbie2010 on January 22, 2020, 10:27:00 AM

Quote from: Mighty_crypt on January 18, 2020, 11:37:27 AM

Any information or source about how to read candle sticks? Some few traders are able to take advantage of recent bitcoin ups and downs, e.g 8800- 9000 bitcoin movement and they have been making gains from this ups and down, any info will be appreciated thanks

Candlestick patterns are very useful in trading just check youtube and babypips.com there are many valuable resources related to how to use them in trading bitcoin pay attention to hammer, bullish or bearish engulfing bars and host of others once mastered coupled with one or two indicator you good to go in your trading journey.

And this has been very helpful for all the traders, there are even traders who are just using the candle stick reading to predict and analyze the market, they are already aware what will happen and most of the time they are right regarding it. I used this too together with RSI and MACD for more confirmation.

tsaroz

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https://www.investopedia.com/trading/candlestick-charting-what-is-it/

Here's a simple guide of reading candlesticks. The candlestick is a representation of price in a fixed amount of time.
It doesn't signifies much unless the candles or the lines are very long or very short.

dimonstration

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Dimon69

There are application that offers ebook type, or discusses the use and how to understand the patterns and provides some analysis to refer with. There is in plagstore. Or better enroll in some seminar regarding trading they will sure to mention candlestick. Online courses and tutorials are a big help too.

gabbie2010

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Quote from: Mighty_crypt on January 18, 2020, 11:37:27 AM

Any information or source about how to read candle sticks? Some few traders are able to take advantage of recent bitcoin ups and downs, e.g 8800- 9000 bitcoin movement and they have been making gains from this ups and down, any info will be appreciated thanks

Candlestick patterns are very useful in trading just check youtube and babypips.com there are many valuable resources related to how to use them in trading bitcoin pay attention to hammer, bullish or bearish engulfing bars and host of others once mastered coupled with one or two indicator you good to go in your trading journey.

CodyAlfaridzi

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Quote from: Mighty_crypt on January 18, 2020, 11:37:27 AM

Any information or source about how to read candle sticks? Some few traders are able to take advantage of recent bitcoin ups and downs, e.g 8800- 9000 bitcoin movement and they have been making gains from this ups and down, any info will be appreciated thanks

It's more than just "reading" candlesticks. The whole analysis based on chart is called technical analysis. There are a lot of books and internet blogs giving this material for free. In the past, it's popular for trading forex but it works for any market really. For free introduction of TA in internet, I recommend you to read babypips.com

I started covering my basics of TA in there. It's a short course but should cover all the basics in my opinion. After there, there are a lot of different methods that you can try and develop from those basics.

Beparanf

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Burpaaa

Quote from: asriloni on January 22, 2020, 12:28:56 AM

You can learn a lot from tradingview and there is a lot of people who have been creating a lot of explanations about how to read the candle view. Just try to visit tradingview(dot)com or try to visit Investopedia and you will get a lot of articles about candle stick and how to read it. Just try to remind you if crypto really different with the binary option and you must also try to learn the fundamental and market sentiment too.

Tradingview is the best with technical analysis as it provides many ways or graphs that we prefer to understand It must be used by many traders . There are plenty of candlestick topic in youtube. It doesnt need to be in crypto sample . some provides stocks as sample but simply just get the idea and apply it in crypto charts .

nicster551

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If you want to do day trading then candle stick reading is one of the best strategy, try to find them on the youtube. There are many videos made by a traders out there. I suggest that you do learn about indicators as well such as RSI, MACD and VOLUME. If you can master this indicators then I'm sure you can trade profitably.

slaman29

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Always makes me wonder if people can't google on their own, what they're actually after. I mean, you can even find out how to read tarot and tea leaves if you want, candlestick analysis is literally everywhere on Twitter.

Someone should really come up with new forms of trading and charts. Cause all the existing ones are pretty boring. Speculation is supposed to be fun, right? Esp in crypto;)

asriloni

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Quote from: Mighty_crypt on January 18, 2020, 11:37:27 AM

Any information or source about how to read candle sticks? Some few traders are able to take advantage of recent bitcoin ups and downs, e.g 8800- 9000 bitcoin movement and they have been making gains from this ups and down, any info will be appreciated thanks

You can learn a lot from tradingview and there is a lot of people who have been creating a lot of explanations about how to read the candle view. Just try to visit tradingview(dot)com or try to visit Investopedia and you will get a lot of articles about candle stick and how to read it. Just try to remind you if crypto really different with the binary option and you must also try to learn the fundamental and market sentiment too.

BartS

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Quote from: Mighty_crypt on January 18, 2020, 11:37:27 AM

Any information or source about how to read candle sticks? Some few traders are able to take advantage of recent bitcoin ups and downs, e.g 8800- 9000 bitcoin movement and they have been making gains from this ups and down, any info will be appreciated thanks

The Internet is full of information about how to read candlesticks, what I do not know is why you want to choose such a method to try to make money in the markets, I ask this because reading those kind of patterns is always going to be very subjective.

It is better for you that you find another way to trade the markets and the only way to do that is to read several books about the subject and find one method that you like and that has a real chance of making profits in the future.

nutriagrigia

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I will give you the advice that you will not read in any books about trading. Best of all, if you are new in trading, do not try to trade on cryptocurrency. It is best for a beginner to choose a medium or long term investment strategy. most likely you will lose all your money if you start trading without experience. even if you read a lot of books on how to read candles

Topic: Trading candle stick reading, anyone? (Read 163 times)