Episode 178: Trading Heiken Ashi in Forex – Best Candlestick Patterns – Trading Strategy

[youtube https://www.youtube.com/watch?v=mTjaMcCRL-M&w=560&h=315]

welcome to episode 178 after 10,000trade show will be a mastering training and creating excellence through thedeliberate practice and analysis of 10,000 traits in this episode we willtake a look at how to trade using high kanashii candlesticks- Oishi candlesticks are really good because they smooth out the perfectionand help us get into a trade so let's go into the charts and take a look atwhat's the best time to enter this type of a trade setup where to place our stoploss and as always how to exit the trade with a profit let's take a look at how to use hikenasha candlesticks to stay in the trend so here we have hiked national sex charthere these are slightly different than your normal candlesticks the mainpurpose of using hi crotchy candlesticks is because it helps us stay with thetrend so what you'll notice is when using hike Nashik candlesticks when thecandlesticks the top of the candlesticks does not have any pins that means thecandlesticks are strong so when the price is moving down we want all thepins to the down side and none on the top and when price is moving higher wewant the bottom to be smooth and all the pins need to be on the top so when weget candlesticks that have pins on both sides like this one that means price isnot trending at the moment and really there's indecision in the market sothose are the ones we want to stay away from so in this case we have the supportresistance area over here price has been dropping it pulls back into the supportand resistance area and then what we are looking for is change of color and Ilike to get to good candle closes here so as we can see here price is justgoing sideways it hasn't really done anything and once we see the pricebounce off of this level once again so and then we also see that price closesbelow our pivot point our daily pivot indicator here so if we have acombination of support and resistance area change of a color in our hikeannachi candlesticks and we have price closing below daily pivot now we havethree different items that provide us confluence and show us that this tradewould be a high probability trade so once we get to candlestick close in ourdirection we take the trade short this is where our entry would be after thetwo candlesticks close here and we stay with the trade for as long ascandlesticks are a red in color so we stay with us here at the end of the daywe see that we have one blue candlestick but we're looking for two solid candlesthat closes so we just stay with our trade and we can trail our stop behindhis previous candles so that our stop is not too farand we stay with the trade here as we can see price goes into red again hereit tries to change to blue but we don't really get any continuation on that sowe stick with our trade same thing here we get 1 blue candlestick so we don't doanything and finally over here we get two blue candlesticks here so this is agood time to exit the trade so from entry to exit here we get 96 pips in thetrade and then there's an opportunity to enter the trade again so we see that theprice actually starts going turning red but it's going sideways so we don'treally have any solid red candle closes these are very tiny candles here then asprice drops below the support level here we see the candles get bigger so thisshows that there is momentum in price now so after we get to solid candlecloses here we enter the trade short again and then again we stay with thetrade for as long as price is red here we are seeing red candlesticks and thenas we can see here we see two blue candlesticks and now the secondcandlestick here is a solid blue candlestick so we can exit the tradeagain so from entry to exit here we get 68 pips in the trade so between the twotrades here we get 164 pips or one thousand six hundred and forty dollarsif trading one standard lot if you'd like to learn more profitable forextrading strategies like this one I invite you to visit my course at tradingwith Venus com forward slash forex course in the course I will show you howto read the candlesticks and different chart patterns we'll do a deep dive intotechnical analysis and I will show you how to read the charts properly whattrade setups you are looking for and how do we trade these setups properly I willalso show you what are the important fundamental things that you need to payattention to how the different fundamental factors drive market price Iwill also share with you the trading strategies that I personally use that Ihave found to be the most profitable we'll also talk about trade managementand how to manage your account and manage your risk so that you become aprofitable trader I will also show you tons ofsamples that you can go and check out so that you are able to see these tradesset up in the live markets as well as a bonus you will get access to my pivotpoint indicator if you have watched any of my videos you know I really lovetrading the pivot points so you will receive that as a special bonus theprice of the course is four hundred and ninety seven dollars to sign up for itplease go to trading with Venus com forward slash Forex course thank you somuch for joining me today if you like this episode please feel free tosubscribe to the channel and share it with your friends I'll be back withanother great trade setup next time.

Source: Youtube

Episode 178: Trading Heiken Ashi in Forex - Best Candlestick Patterns - Trading Strategy

There are many best candlestick patterns in forex trading but only a few are worth knowing. Each of them has specific meaning and tradable potential. One of the most useful and a good technical analysis tool is the Japanese Candlestick which commonly known as Heiken Ashi. It normally appears smoother, making the short-term trend easier to see.

Today in this Episode, I will show you how to identify heikin ashi candlesticks, where to place your stop loss and how to exit the trade profitably.

Episode Highlights:

Trading (00:42)

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