The Best Candlestick Pattern

Mastering the Best Candlestick Pattern

So you picked up a book on Candlestick patterns and you burned the midnight oil in learn all the patterns and what they mean as fast as possible. You then took the knowledge you learned and started making trades from it. You got some fantastic results! ... Then some losers, followed by more losers, followed by "I must be doing something wrong" and you end up back in the cycle for the quest for the perfect setup.

Do Candlestick Patterns Work?

I would love you give you a straight answer YES! or a straight answer NO! However, as simple as Candlesticks was sold to you by some guy standing in the corner of the internet selling the "Best Easy Techniques" for $5, unfortunately there is more to Candlesticks then just the rules of the pattern itself. By now you might have realised that even Candlesticks have their place in the market and they are also subjective to when they work to absolute perfection to times when they do not. 

What is the Best Candlestick Pattern to Trade?

If I had to say there is 1 Candlestick pattern that works awesome, I would always say my favourite would be the exhaustion candle or pin bar or hammer / inverted hammer. There are multiple pieces of information that we need to be aware of to make sure a Candlestick Pattern will work. I'll share with you my check-list in which I rank the quality of what I consider the best candlestick pattern.

My Candlestick Pattern Validity Check-List

• Make sure the pattern occurs where it is highly visible. Preferable at the ends of trends.
• The size of the pattern must be bigger than the candles around it.
• Make sure the rule of the candlestick pattern (what it is supposed to do) matches with the market story.
• Is there anything supplementary that agrees with my candlestick pattern?

All these things are covered in the webinar video above in thorough detail for an hour. I hope you enjoyed the webinar and I really look forward to having you LIVE in my next webinar!

#urbanforex - Trading Consciously