The following are key candlestick patterns to look for:
When these patterns appear in a chart, and when they appear at levels that coincide with other indicators – such as Fibonacci retracement levels, or moving averages – they create a potential trading opportunity.
ASSIGNMENT: Identify a currency pair whose chart shows a candlestick formation noted in this lesson on its most recent daily candle. It is VERY IMPORTANT that the candle is closed; one of the most common errors that traders make is analyzing a candle that is still open. Determine whether this is a good entry point or not, based on how close support and resistance lines appear to the current price. If you do find a plausible trade, place an entry or market order to enter a position. If no good opportunities were available, tell us why you decided not to place a trade. If possible, try to focus on a longer time frame, such as a daily chart. You may use current or past situations.
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