JTrader
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I've read various posters comments about how they can at times read the price action on a chart, like they could a piece of music.
So. this afternoon, I decided to really eyeball some candlestick charts, from left to right, and see what each candle told me, and how that message related to what followed.
I tried this on a few different instruments and timeframe.
What i have found is that my predictive interpretations of what each candle told me, based on the OHLC, and its relation to the previous and very recent candles, consistently unfolded on the following candles.
This would be extremely useful a skill, to use in real-time, as it would allow you to consistently and successfully, closely track the price action (trend and turns) for any given instrument.
Have a go for yourself. Just select any candlestick chart. Start at the left, and candle by candle work to the right. Think carefully about what each completed candle is telling you about what is happening in terms of the price, through the OHLC levels, and its relation to the OHLC of recently completed candles.
Try drawing up a few strict either/or criteria that must be met, for you to then enter or SAR at the open of the next candle (after a criteria meeting candle closes), that would have consistently allowed you to make a profit.........If this is possible, you are onto a winner!
So. this afternoon, I decided to really eyeball some candlestick charts, from left to right, and see what each candle told me, and how that message related to what followed.
I tried this on a few different instruments and timeframe.
What i have found is that my predictive interpretations of what each candle told me, based on the OHLC, and its relation to the previous and very recent candles, consistently unfolded on the following candles.
This would be extremely useful a skill, to use in real-time, as it would allow you to consistently and successfully, closely track the price action (trend and turns) for any given instrument.
Have a go for yourself. Just select any candlestick chart. Start at the left, and candle by candle work to the right. Think carefully about what each completed candle is telling you about what is happening in terms of the price, through the OHLC levels, and its relation to the OHLC of recently completed candles.
Try drawing up a few strict either/or criteria that must be met, for you to then enter or SAR at the open of the next candle (after a criteria meeting candle closes), that would have consistently allowed you to make a profit.........If this is possible, you are onto a winner!
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