Skip to content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Using Candlestick Patterns along with other Technical Indicators

Using Candlestick Patterns along with other Technical Indicators

Richard Krivo, Trading Instructor

Student’s Question:Can candlestick patterns be used as conformational indicators?Instructor’s Response:Sure…Take a look at the chart below…

Using_Candlestick_Patterns_along_with_other_Technical_Indicators_body_33334d1247192139-post-day-chart-7-09-09.png, Using Candlestick Patterns along with other Technical Indicators

We see a very well established trendline in place for about 4 months. A break of trendline support occurs when the bearish candle closes below the trendline. That in itself is significant. However, the pattern of which that candle is a part is an Evening Star. Since an Evening Star is interpreted as a bearish reversal signal, this would lend even more significance to the break of support.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES