I think that CAC40 or DE30 is easier, the DAX show good intraday moves
I hope you are fine.
Maybe I’m not made for trading the forex but… I still continue loosing money on Forex, even on Daily timeframe.
I think that CAC40 or DE30 is easier, the DAX show good intraday moves.
Can you tell me a strategy for day trading the DAX, such as in 5min or 15min timeframe ?
A friend of mine uses some indicators, but I cannot do like him.
Would you trade it without indicators ?
Thank you for your advice.
Some bullish patterns
There are many candlestick patterns but only a few are actually worth knowing.
The main important patterns are the one that can help traders to know about the trend or the time of trend change in the market.
Here are some bullish patterns traders need to know about:
Engulfing pattern consists of two candles.
The first day is a narrow range candle that closes down for the day.
The second day is a wide range candle that “engulfs” the body of the first candle and closes near the top of the range.
This means buyers are ready to take control of this stock.
Hammers can develop after a downtrend which states the buyers are taking control of the market.
It is a candle with short body and long wick under the body.
This is a very common buy sign for the traders.
This pattern needs two candles.
On the first day you see a wide range candle that closes near the bottom of the range.
The sellers are still in control of this stock.
Then on the second day, there is only a narrow range candle that closes up for the day
This is also a two-candle reversal pattern where on the first day you see a wide range candle that closes near the bottom of the range.
The sellers are in control.
On the second day you see a wide range candle that has to close at least halfway into the prior candle.
This indicates a powerful reversal of the market trend.
The doji is one of the most popular candlestick patterns.
The stock opens up and goes nowhere throughout the day and closes right at or near the opening price.
Quite simply, it represents indecision and causes traders to question the current trend.
This can often trigger reversals in the opposite direction.
Dojis inside complex patterns can indicate trend change of the market.