Guest Post: Bullish and Bearish Engulfing Patterns in the Forex
The forex market has the great advantage of being always open, but this also makes the definition of reliable price patterns that may allow the trader to set appropriate operational strategies very complicated. The technique of the Japanese Candlestick was born on the commodities market, but in recent decades it has had a wide spread in the forex market. The main reason is the easy to read graphics offered by the Japanese candlesticks figures, as the pattern can indicate the trader the mood of the market and the possible turning points. Simply observing the body color of a candle or the length of its shadows, an European trader will be able to understand what happened during the night on the Japanese market, planning his job to set an adequate trading strategy. Traders operating on the forex often prefer to use 240 or 480 minutes candles, to break the sessions into 3. The first one is concerning the Asian market, the second one about Europe, and the lasts one is the American one. Amo