Tweezer Tops should have the same highs, while Tweezer Bottoms should have the same lows.
Now that you’re familiar with basic candlestick patterns like spinning tops, marubozus, and dojis, let’s learn how to recognize single candlestick patterns.
Let’s take a look at each type of candlestick and what they mean in terms of price action.
buyers came in and drove prices back UP to end the session back near its open price.
While we briefly covered Japanese candlestick charting analysis in the previous forex lesson, we’ll now dig in a little and discuss them more in detail. Let’s do a quick review first.
Now that you know the basics of how to trade support and resistance, it’s time to apply these basic but extremely useful technical tools in your trading.
If we take this trend line theory one step further and draw a parallel line at the same angle of the uptrend or downtrend, we will have created a “channel”.
Trend lines are probably the most common form of technical analysis in forex trading.
“Support and resistance” is one of the most widely used concepts in trading.
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