Doji Candlestick Currency Trading Methods ? Forex Finance Review

When a doji candlestick is spotted in the market, first look back to see if there has been enough movement for you to benefit from a reversal. A retracement may only be about one 3rd of the distance since the last low. Either the RSI (relative strength index) or MACD (moving average convergence/divergence) can be used for this reason. An overbought or oversold market plus the doji is a pointer that you can get involved. If trading is trailing off, then this is another sign that a reversal could be about to happen.

This is explained well by considering Paint Bar Forex. When you open a trade, be prepared at first for a retracement. Either set a limit order at the point that you would expect a short term retracement to reach, or watch and do this manually . At that point, you might want to shut just half the trade. With the other half, you might move the stop to a no-lose position close to your opening price, and let it run in case a major reversal occurs. Naturally, there?s always a risk, as with any form of hopeful trading. You do have to know what you do and this type of trading needs a large amount of practice, although it?s a straightforward system. So we endorse trying out these doji candlestick trading systems in a demo account so that you know how to work them successfully before going live.

Source: http://www.localgovernmentfinancereview.org/doji-candlestick-currency-trading-methods/

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