Dr Foo, Steve Nison Candlestick

Dr Foo talk

1. Stay with the trend

2. Trade short term

3. Avoid range trading - trade on breakouts..

**stay out of trading market!

4. Stop loss! !!

5. Long shadows (esp Hammer and Gravestone) may tell impt info about bear and bull traps

*****be careful of traps! I kana big time by blumont etc..

for Forex. .  Traps are usually formed during high volatility period..

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Price vs Indicator. . Price is leading indicator . Price action...

Indicator is lagging indicator

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Good simple strategy

1.Use Bollinger squeeze strategy .. wait for breakout..

2. Spot WRB candle. . Relative to rest of candles

Worst mistake : when pple see big black marubozu candle..many people think it is cheap and buy... I. E. Kana falling knife

3. Forex - use multiple timeframe.. Ard 3 timeframe. . E.g. 60 min,  daily..and 15 min

Only trade when all 3 or 2 timeframe indicate same direction of market!

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Steve Nison

1. Type of trend?

2. During overbought and oversold.. esp turning points such as Doji, morning, evening star, long shadow spinning tops etc.