3 Simple Ways To Use Candlestick Patterns In Trading; SchoolOfTrade.com

Posted on By Kelly Donner 37 Comments on 3 Simple Ways To Use Candlestick Patterns In Trading; SchoolOfTrade.com

In today's video we are going to discuss three (3) simple ways that I like to use candlestick patterns in my trading.

So let's take a step back and look at JUST price action. Stripping your chart of all of the indicators and going back to the bare bones can give you a HUGE insight into how prices work and why it does what it does and this video covers a few ways to do that!
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Economic News:
Please remember that economic news, both scheduled and un-scheduled will increase volatility and decrease liquidity in the market in the short-term, which causes price-action to react inconsistently with the levels of support and resistance mentioned in this video. Trading during economic news reports is dangerous and highly discouraged, no matter what your level of experience.
PLEASE DO NOT TRADE DURING TIMES OF MAJOR ECONOMIC NEWS
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Joseph James, SchoolOfTrade.com and United Business Servicing, Inc. are not registered investment or trading advisers. The services and content provided by SchoolOfTrade.com and United Business Servicing, Inc. are for educational purposes only, and should not be considered investment advice in any way. U.S. Government Required Disclaimer – Commodity Futures Trading Commission. Futures and Options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. CFTC RULE 4.41 – These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or-over-compensated for the impact, if any, of certain market factors, such as liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown.

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Comments (37) on “3 Simple Ways To Use Candlestick Patterns In Trading; SchoolOfTrade.com”

  1. Dynamite lesson. Recently watched a few that had my head spinning. I’m off charting! Thank you !!

  3. It’s a basic & simple strategy, yet happened a lot in almost every pairs & timeframe, Thank you for this tips.

  4. Amazing explanation, i never looked at it this way before and it finally makes sense… thank you!

  5. I just turned 18 and have been looking into getting into investing but I didn’t know where to start. This video helped immensely with providing a useful, clear, and not too technical explanation. Thank you!

    1. I wish I was interested in this stuff when I was your age, I’m impressed.

  6. Great, that’s exactly what I do, but with OHLC! When I thought about viewing different time frames I realised that a 1 hour price bar is going to show what was contained within 12 x 5 minute bars, so I developed this same idea by first combining two price bars as in a straight reversal and see where the close ends up, then 3,4 and 5 bars, then a whole consolidation area! It works well! Thank you!

  7. I like the way you simplify and explain things. It’s informative without reinventing the wheel. Thank you for the video.

  9. Candlestick patterns are not consistent in predicting the start and end of a trend but this can be an addition to your trading arsenal. Remember, those who control the Forex market can just go long or short to profit off retail traders without clear signs so candlestick patterns can also give false signals.

  10. The problem I always have is trying to duplicate this process on a different chart, the candle sticks never look this perfect. Its difficult and different.

  12. Thank you, Joseph! This is a very explanatory video. I’ve watched quite a few on trading and couldn’t even finish some (over 20min long!), because the info didn’t seem as valuable to keep watching them. I appreciate your talking about these wicks that show the direction of the stock. It makes a whole lot of difference if you know this when trading. I got lucky a few times when just I started and made good money on the stocks, but since I didn’t know what I was doing, I began losing and losing more. That frustrates me, and because of that I wasn’t able to enter a trade properly being afraid to lose even more. I guess emotions got involved… Oh, well. We’re all humans after all 🙂 With that being said, I believe that people like you are extremely helpful! Again, thank for doing that.

  14. Awesome video! Love this info and the explanations. Nothing is concrete in the trading world but this helps a lot to better guess my plays.

  15. What a great explanation. I just hope there were more like you in trading industry. That knows what they’re talking about at the core level.

  17. Thanks a lot for the video! It makes a HUGE difference for someone like me . I’ve been wondering for a while how to start reading charts. Great video , thanks

  19. Never understood how to use candlesticks before, and it looked insanely complicated for me. It’s much more clear now, thanks!

  20. Completely new to the stock market. Thank you for these videos! Gonna spend all evening watching!

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