Please tell me specific time frame for getting 5 pips profit
reader’s message
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Sir
Thanks for your replay. sir i see your video you use daily time frame.
can i use for scalping daily time frame for only 5 pips.
Please tell me specific time frame for getting 5 pips profit.
Thanks.
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specific time frame is daily .
because easy to scalp
in the daily time frame.
Popularity of Candlestick patterns
Though Candlestick charts were originated in Japan during the 18th century, it became popular in the west in a short time.
At that time Japan had no defined currency.
So, rice was represented as a medium of exchange there.
Various feudal lords deposited rice in warehouses in Osaka and would then sell or trade the coupon receipts.
Thus rice became the first market trading option for the Japanese.
In the 1700s legendary Japanese rice trader Homma Munehisa studied all aspects of rice trading from the fundamentals to market psychology.
That’s when he actually figured out the candlesticks patterns.
Homma subsequently dominated the Japanese rice markets and built a huge fortune.
His trading techniques and principles eventually evolved into the candlestick methodology.
The method was picked up by famed market technician Charles Dow around 1900.
Still today it is the most popular form of technical analysis chart used by traders.
The reason behind the popularity of the candlestick charts is simple.
Candlestick charts give some crucial information to the traders and help them to decide.
Candlestick charts show the same information as bar charts but in a graphical format.
Thus they provide a more detailed and accurate representation of price action.
Candlestick charts visually display the supply and demand situation by showing who is winning the battle between the buyers and sellers.
Candlestick charts reveal another dimension of the given period’s price action by pictorially displaying the force behind each price bar’s movement.
Candlestick formations make all single bar and multi-bar patterns significantly easier to spot in real time.
Thus it increases trader’s chances of catching high probability trade setups.
Candlestick charts offer everything bar charts do and more.
Using them is a win-win situation.
It is because traders can use all the trading signals normally used on bar charts with the added clarity and additional signals generated by them.
