The second big red candle you see on this chart is called a hammer it is almost what they call an empowering hammer except it is not green none the less it is a significant signal for traders. The rest of the chart tells the story of what i am trying to explain after it formed.
Always strive to win. There are lots of losers in the markets and only 10% winner's. You have better odds on red or black in a casino. But knowledge is king
So many people open a demo account and get washed away in seconds. Learn the basics of how the markets work study every noke and crannies before you even enter into your first trade. One must understand what they are looking at
To read charts you must have a very good understanding about MMAs these are crucial to the trading patterns you enter into. The best ones are 50/200 crossovers obviously longterm. If you are into swing trading the 10/30 are wonderful and a note always look for the empowering green hammer between...
Always work in an hourly chart if you are trading. Later I will show you what candles to look for to increase your chances of taking a profit. Rule number 2. Do not get greedy. Zoom in and out on the D, W, and M to see what the trend is .
You don't need to subscribe to any of them. Just learn the candle patterns and MMAs then apply that knowledge to free charts It does take time but it is better than going in blind Freddy
Here is a example of a very rare piece of norfed priced very well for its condition. I have one of these with 4 hallmarks in pristine condition. These are very rare
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