I thought I would share my method of learning candlesticks - haven't done yet but based on solid principles.
The premise is that in order to use them in the heat of the moment you must know them cold like you know your alphabet.
So grab some paper or card and make some 3 * 2 inch rectangles and draw the each formation from your reference source - such as www.hotcandlesticks or whatever.
Drawing them is the first step to imprinting them in your mind.
Each drawing should have a label at the top.
The next step is better with a partner but a ruler will do.
With Partner - get them to show you the card with the label covered. Call out the name and whether bullish or bearish.
With ruler - cover the name and talk to yourself - just makes you go slightly crazier and you don't get a high five.
Keep going until you can do all cards once through without mistake or hesitation.
End product: you should be able to look at the charts now and see the patterns. If you can't rinse and repeat until you do.
The premise is that in order to use them in the heat of the moment you must know them cold like you know your alphabet.
So grab some paper or card and make some 3 * 2 inch rectangles and draw the each formation from your reference source - such as www.hotcandlesticks or whatever.
Drawing them is the first step to imprinting them in your mind.
Each drawing should have a label at the top.
The next step is better with a partner but a ruler will do.
With Partner - get them to show you the card with the label covered. Call out the name and whether bullish or bearish.
With ruler - cover the name and talk to yourself - just makes you go slightly crazier and you don't get a high five.
Keep going until you can do all cards once through without mistake or hesitation.
End product: you should be able to look at the charts now and see the patterns. If you can't rinse and repeat until you do.
