One good way to practice is to just use IG market, start from the past at the left, and slowly scroll to the right side of the chart to the future. Zoom the candle to an appropriate size, enough to see each candle, and also enough to see the turbulence of the price actions, and browse through the candles. Try to get a good feel of candlestick patterns. You may not know what you are doing, but if you keep doing it, your brain will subconsciously record it for you.
One observation I made just now.
Long pins at peaks or bottoms makes the most sense.
What does it mean? Most of the time, you can be assured that a substantial price movement will happen next.
When it is a long pin at the bottom facing downwards, most like the bear is drying up, and likely the bull will take over.
When it is a pin facing up, at the peak, the bull may be dehydrated, and the bear will use its weight and collapse the market.
When it is a bull run, and long pins facing downwards appear, it may show that the bull don't give a f*ck, and want to continue charging upwards.
No comments:
Post a Comment