Tuesday, 21 March 2017
The search for 'yes' or 'no'.
Unfortunately I learned more and more. Suddnely I was confronted with fifty shades of grey on every trade- and not in an enjoyable way.
I needed simplicity and I hope that my study of Japanese Candlesticks will return it to me!
What are Japanese candlesticks? They are pictures of candles that represent price action in a simplified way. If the market falls then the main body of the candle is one colour. If it rises then it is another. If the candle has a wick then this indicates it reached a certain price and then fell back to another one.
The candles are usually read in groups and as such gain exotic names such as 'hanging man' and 'evening star'. The great virtue is that these have definite meanings that are not grey.
Candlestics cannot be relied upon as a sole guide but they are great when combined with other, less emphatic indicators.
I will learn my indicators and then put them to the test one hundred times. If they advise me well then I will use them.