Nov

How many candlesticks would comprise the beginning of an uptrend/downtrend in forex trading?

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Andrew T asked:

I would appreciate the expertise and experience of professional traders

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3 Responses to “How many candlesticks would comprise the beginning of an uptrend/downtrend in forex trading?”

Dzo Says:
December 1st, 2008 at 5:03 pm
Hi,

It depends on particular day’s trend in forex market. You can visit for some useful tips and info related to your query. Good luck!
Bob Says:
December 3rd, 2008 at 4:34 pm
Steve Nison’s books are old but still the best. Get them at a library or used. He has some newer books, too.

Candle sticks have some patterns that consist of ONE bar. But these are signals of a strong “maybe”; they signal strength or weakness, not a trend. I don’t trade on candles alone; I need confirmation from a moving average before I buy in (or short).
Paul U Says:
December 3rd, 2008 at 8:26 pm
I use two full candles on a 15 minute chart after a 5 / 8 cross with both moving averages showing a slope of over 45 degrees to give me a fairly good confirmation of a reversal.