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Learning About Candlestick Charting PatternsBecause I don't like to spend money I go to visit the local library to find reading materials, the latest book that I've borrowed is proving to be an absolute gem. The book is The Secret of Candlestick Charting, by Louise Bedford. It is quite strongly targetted at stock inveseting in Australia though I've managed to learn a quite a few patterns which appear to be applicable in FOREX as well. Let me post a couple of charts which illustrate some candlestick patterns which I've found.
This example shows a couple of different single line patterns, First in the dark blue is a shooting star, followed by a hanging man which is then followed by a drop of around 4 cents. Then at the bottom of that downtrend is an inverted hammer which signalled an uptrend which carried for approximately 6 cents.
Here you can see a hammer which marked the reversal of a MASSIVE downtrend on the NZD/USD. There are a heap more candlesticks that are in those charts, I've just pointed out a couple of the basics. I will write more later.
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