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Candlestick Day Trading

Candlestick day trading is an excellent way to trade any market be it Forex, futures, stock, or options.

One of the most popular methods of candlestick day trading involves using candlestick charts of multiple timeframes. First the longer-term charts are used to establish the long-term trend. After that you can look at the smaller timeframes of daily, 4 hour, 1 hour charts, etc. to refine your entry.

Some traders prefer to ignore the longer-term candlestick charts altogether and focus on the shorter timeframes. Remember, there is no right or wrong way to day trade using candlesticks, only profitable and unprofitable ways.

Keep in mind that the same excellent candlestick patterns that work for daily and longer-term charts will also work when you are short-term trading and even when you are scalping. As the saying goes, “a doji, is a doji, is a doji”. Basically this means that when you see a doji the “market is tired” and the current directional momentum is exhausting.

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