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Daily Market Analysis

Daily Strategy Analysis (Live FxAlerts)

Single Candle Indicators

Marcello Ducilles Underground System Demonstration

Question & Answer Session

4. There are a nearly infinite number of chart patterns with an equally long dictionary of nomenclature, but among the most commonly recognized are the essentials of Japanese candlesticks.We will cover a few of these, continuing today with the single candle indicators. Courtesy of google images Forex Candlesticks 5. The Hammer and the Hanging Man are the identical individual candlesticks within a different trend pattern.The candle forms when a price moves significantly lower after the open, but rallies to close well above the intraday low. The resulting candlestick has small body with a long stick. If this candlestick forms during a decline, then it is called a Hammer while it is termed the Hanging Man when formed during an uptrend. Many believe the Hammer to be a stronger indicator than the Hanging Man in its environment.Courtesy of google images Hanging Man & Hammers 6. Again, the Inverted Hammer and the Shooting Star are identical candles in their single form.Price opens higher, trades much higher, then closes near its open.This candle found in a downtrend is termed the Hammer and is felt by many to be indicative of an impending uptrend.The same candle positioned in an uptrend is a Shooting Star and is often felt to be a strong reversal signal.Courtesy of google images Inverted Hammer & Shooting Star 7. Although candlesticks can be considered indicators in their single form, most still indicate a specific movement based on the price environment in which that candle is located.Know your candles as they are the base of most chart interpretation, but always be sure to test how you are applying your knowledge. Closing Notes 8. Are you part of the FxEdge Family? Become a Fan of myfxedge.com on Facebook and get free tips! 9. Get Your Profit in 2011 http://myfxedge.com/get-a-membership/ 10. 11. 12. Get Your Profit in 2011 http://myfxedge.com/get-a-membership/