GBPUSD inverted hammer candlestick on weekly chart tells you???
These candlestick's on 1 hour or above chart's give you a lot of information, when trading binary options.
When looking at a weekly chart break it down into major trends, Elliott impulse waves (1-5) & correction waves (ABC). Look at higher time frame charts ( 1 month) to get an even bigger picture view on where price is and has been related to where it is right now. On monthly chart, this year's current price action has not been this low since 2009, this year should be looking upwards for this major pair.
Need to know top 10 candlesticks, which occur frequently on all time frames and charts. Candlestick chart patterns like pendents, flags, triangles etc... inform you of when possible break outs up or down & points of confluence too. Candlestick patterns can give you a glimpse of the future price action of a pair. Anticipation, not reacting to price action going on right now on charts, especially trading short term (60 seconds to 15 minutes) will help you win.
When trading 60 seconds or under 15 minutes, keep in mind major trend related to trading with the trend, not against the trend. This is safer in long run and easier to consistently make profits & have a higher "in the money" % too.
Please keep in mind price action on charts, money management, trends, support & resistance areas, Elliott impulse & correction waves when you trade, these and more will keep you successful for the long term.
When looking at a weekly chart break it down into major trends, Elliott impulse waves (1-5) & correction waves (ABC). Look at higher time frame charts ( 1 month) to get an even bigger picture view on where price is and has been related to where it is right now. On monthly chart, this year's current price action has not been this low since 2009, this year should be looking upwards for this major pair.
Need to know top 10 candlesticks, which occur frequently on all time frames and charts. Candlestick chart patterns like pendents, flags, triangles etc... inform you of when possible break outs up or down & points of confluence too. Candlestick patterns can give you a glimpse of the future price action of a pair. Anticipation, not reacting to price action going on right now on charts, especially trading short term (60 seconds to 15 minutes) will help you win.
When trading 60 seconds or under 15 minutes, keep in mind major trend related to trading with the trend, not against the trend. This is safer in long run and easier to consistently make profits & have a higher "in the money" % too.
Please keep in mind price action on charts, money management, trends, support & resistance areas, Elliott impulse & correction waves when you trade, these and more will keep you successful for the long term.