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Forex
2 Powerful Candlestick Patterns Every Forex Trader Should Know
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[QUOTE="moonchild, post: 305381, member: 57467"] As a forex trader, I know how hard it is to navigate the world of forex trading because I have been there, especially as a beginner. One thing that is a must for every trader is being able to read candlestick patterns. These patterns provide more light into market trends, allowing traders to make more informed decisions before entering a trade. In this post, I want to introduce you to two powerful candlestick patterns that every forex trader should know. The first pattern is the bullish engulfing pattern. This pattern occurs when a small bearish candle is followed by a larger bullish candle, with the bullish candle fully engulfing the bearish one. This pattern signals a potential reversal of a downtrend, making it a good opportunity for traders to enter buy positions. The second pattern is the bearish engulfing pattern, which is the opposite of the bullish engulfing pattern. It occurs when a small bullish candle is followed by a larger bearish candle, with the bearish candle fully engulfing the bullish one. This pattern signals a potential reversal of an uptrend, making it a good opportunity for traders to enter sell positions. Incorporating these two candlestick patterns into your trading strategy if you have will greatly improve your chances of success in trading. [/QUOTE]
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2 Powerful Candlestick Patterns Every Forex Trader Should Know
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