Hi everybody,
I live in UK (GMT) and I am trying to place a trade at the end of my working hours. I am using candlesticks patterns , ADX, Bollinger Bands and support and resistance lines to setup my trades. Let's say that I have a Bullish Engulfing Pattern, my ADX shows an oversold market and the pattern is at the lower band. This would indicate a great potential buy signal. However, the last Candlestick is always on the move, since Forex is a 24 hours market. Now here comes my dilemma- which candlesticks I should take into account when looking for my pattern- is the last 2 or the one before the last one and the one prior this one as a pattern for my trade.(if my last candlesticks are 1,2,3,4,5- then 4 and 5 should help me place a trade or 3 and 4 since 5 is always on the move). I like GPB/ USD as my pair to trade and I can access the platform after 19 GMT time. Also, is there any time of day when the market is staying still so I can place my trade in a no noise environment? Any pairs would meet this criteria?
Thank you
I live in UK (GMT) and I am trying to place a trade at the end of my working hours. I am using candlesticks patterns , ADX, Bollinger Bands and support and resistance lines to setup my trades. Let's say that I have a Bullish Engulfing Pattern, my ADX shows an oversold market and the pattern is at the lower band. This would indicate a great potential buy signal. However, the last Candlestick is always on the move, since Forex is a 24 hours market. Now here comes my dilemma- which candlesticks I should take into account when looking for my pattern- is the last 2 or the one before the last one and the one prior this one as a pattern for my trade.(if my last candlesticks are 1,2,3,4,5- then 4 and 5 should help me place a trade or 3 and 4 since 5 is always on the move). I like GPB/ USD as my pair to trade and I can access the platform after 19 GMT time. Also, is there any time of day when the market is staying still so I can place my trade in a no noise environment? Any pairs would meet this criteria?
Thank you
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