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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
Wall Street
More View more
Real Time News
  • Please join @JStanleyFX at 13:00 EST/17:00 GMT for a webinar on trading price action. Register here:
  • 🇷🇺 Unemployment Rate (MAR) Actual: 5.4% Expected: 5.6% Previous: 5.7%
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.16% FTSE 100: 0.11% France 40: -0.00% Wall Street: -0.90% US 500: -0.93% View the performance of all markets via
  • $Gold pull back didn't quite get back to that area of prior resistance. But a couple of confluent fibo levels have come into play 1763-1766
  • Heads Up:🇷🇺 Unemployment Rate (MAR) due at 16:00 GMT (15min) Expected: 5.6% Previous: 5.7%
  • US Indices are all notably down today and the $VIX has risen back above 19.0, trading at a fresh high for the month. DOW -0.91% SPX -0.96% NDX -1.40% RUT -2.49% $DIA $SPY $QQQ $IWM
  • #Gold Price Outlook: Gold Breakout Stalls at Trend Resistance - $XAUUSD Levels -
  • Popular stocks in the reflation trade are getting killed today with $X $BA and $XOM taking on heavy losses and slipping beneath key trendlines
  • NZD/USD trades to a fresh monthly high (0.7230) ahead of the update to New Zealand’s Consumer Price Index (CPI). Get your $NZDUSD market update from @DavidJSong here:
  • $WTI sharply lower following the news, falling from 63.50 to below the 62.00 level and hitting a six day low. WTI had just hit a fresh one month high above 64.00 yesterday before heading lower. $OIL $USO
Becoming a Better Trader: Trading with Candlesticks

Becoming a Better Trader: Trading with Candlesticks

Paul Robinson, Strategist

LIVE events are held each day with DailyFX analysts, for details please see the Webinar Calendar.

Today’s webinar piqued a lot of interest as clearly many traders are interested in the power behind using candlestick analysis. While there are well over 30 different formations involving one to several candlesticks, we focused primarily on two higher probability formations. Key reversals, also known as ‘pin bars’, ‘hammers’, ‘shooting stars’, as well as other names, were the first we focused on. Following that we looked at the ‘doji’ in its various forms.

The idea behind these candlesticks is they show us a lot about supply and demand, or buying and selling pressure in the market. Like other forms of analysis, they are best used in conjunction with, for example, various forms of support and resistance, whether it be simple price-based levels, Fibonacci, moving averages, or other methods for identifying key levels in the market.

Reversal-type candles can show us if the market is responding to the levels on our charts, or if a market is unable to sustain a countertrend move before heading back in the direction of the primary trend. We looked at several examples to show how these powerful bars can be utilized to gain valuable information.

Not only can we obtain important information about supply and demand, but reversal bars can be helpful in timing entries and assessing risk. For example, if you get a solid bearish key reversal at resistance it can help you enter into a trade with a defined point to set your stop-loss. In this case, it would be set sufficiently above the high of the candle. (For a long-trade, opposite.) You would of course want to take into consideration the distance to a logical exit relative to your entry and stop for a good risk/reward ratio.

For the full discussion, please see the video above…

Check out our Q3 Forecasts for our take on where markets are heading.

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing up here.

You can follow Paul on Twitter at @PaulRobinonFX.

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