6/28/08

A star or a doji - two great candlesticks in Forex charts

Almost every Forex trader knows what the terms "Star" and "Doji" means in Forex. They characterize special candlestick formations on forex price charts.
If you are hearing about stars and dojies for the first time, check out these resources for the reference:

Forex chart candlesticks

Introduction to candlesticks



Both Dogi and Star candles are the great indicators of trend beginning and ending.
They literally tell that one of the forces on the market (either bulls or bears) is giving up and another is getting stronger.

Many Forex traders like using only chart prices to make decisions about entries and exits. In such trading technique candlestick formations like Stars and Dojies play one of the key roles.

However, trading Forex with Stars and Dojies isn't simply about taking every reverse candlestick - Doji or Star - into consideration. The rules are needed in order to pick the right Star or Doji. What are those rules?

Will be continued next month.
good luck and good profits in Forex!

 
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