Frenday.com

By hanz on Jul 1, 2009 | Reply

In the 1600s, the Japanese developed a method of technical analysis to analyze the price of rice contracts. This technique is called candlestick charting. Steven Nison is credited with popularizing candlestick charting and has become recognized as the leading expert on their interpretation.
Candlestick charts display the open, high, low, and closing prices in a format similar to a modern-day bar-chart, but in a manner that extenuates the relationship between the opening and closing prices. Candlestick charts are simply a new way of looking at prices, they don’t involve any calculations.
Each candlestick represents one period (e.g., day) of data.
I have met investors who are attracted to candlestick charts by their mystique–maybe they are the “long forgotten Asian secret” to investment analysis. Other investors are turned-off by this mystique–they are only charts, right? Regardless of your feelings about the heritage of candlestick charting, I strongly encourage you to explore their use. Candlestick charts dramatically illustrate changes in the underlying supply/demand lines.
Because candlesticks display the relationship between the open, high, low, and closing prices, they cannot be displayed on securities that only have closing prices, nor were they intended to be displayed on securities that lack opening prices. If you want to display a candlestick chart on a security that does not have opening prices, I suggest that you use the previous day’s closing prices in place of opening prices. This technique can create candlestick lines and patterns that are unusual, but valid.
The interpretation of candlestick charts is based primarily on patterns. The most popular patterns are explained at http://www.forex2u.com/candlesticks-fore…

By Bitstorm on Jul 1, 2009 | Reply

Volatility in the foreign exchange is rather a matter of the right timeframe. I wouldn’t use less than the 1hr chart, ideally you’d want to use the daily or 4hr chart.
Candle stick patterns should always be used in conjunction with other indicators since these patterns merely sign a potential reversal from a support/resistance level.
Popular reversal patterns are bearish/bullish engulfing, inside bars, doji spinning top, hammer-reverse hammer, evening/morning star. You could study other patterns but are in my opinion less effective.
They don’t have to be “exact” text book examples on a chart. There’s most of the time a degree of distortion, the more distorted the less valid it becomes. This is something you learn through experience.
Overall, spotting a reversal candle pattern is fairly straight forward and simple, when there’s a good amount of doubt don’t trade it.
Another advantage of candle patterns is that it enables one to set a stop loss, usually inserted a couple of pips away from the other extreme of the pattern….

By Bitstorm on Jul 1, 2009 | Reply

Hi, my name is Phil Poland. I’ve been in Forex Trading for over five years and literally spent over ten thousands buying various Forex systems.
There are over 300 EAs available in the market… plenty of hype too, influenced demo testing and promises have been made by the developers…
Selecting the quality robot can be a daunting task.
When I first started researching and using these different software programs, I noticed something startling. ONLY FEW SHOWED ME PROOF THAT IT WAS EASY AND MORE IMPORTANTLY, THAT THEY WORK!
For more information: http://reviews1st.com/ForexRobots

By rruiql u on Jul 1, 2009 | Reply

hmm, you can use it, and it does work. What i do if i see a doji, i’ll look at history. have the dojis signified reversals? or are they redundant? also, its better to use longer-term charts. so, yes, they’re part of technical analysis and can be used in forex.

By eewarze on Jul 1, 2009 | Reply

yes. it give more information than bar chart. no financial expertise needed here as it is basic information.