Entries by The Synapse Network

How to Combine Candlestick Patterns with other Technical Indicators

Most novice traders make the mistake of treating a single candlestick pattern as a definitive trading signal. It’s important to understand that candlestick patterns hold little value if they’re not considered within the context of overall price action. On their own, these patterns usually lack the power to reverse a market trend. Apart from this, […]

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How to Combine Candlestick Patterns (Blended Candles)

In this blog post, we introduce the concept of blending candlesticks, a technique that will be explored in greater detail in subsequent articles. Blending candlesticks involves combining adjacent candles into a single candlestick, summarizing the outcome of several periods in one candle. This technique can be applied across different time scales, such as minute-by-minute, hour-by-hour, […]

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How to Read Candlestick Patterns Like a Pro

Price action trading and candlestick patterns are some of the most commonly used concepts in technical analysis. However, misconceptions and half-truths can cause confusion and lead to poor trading decisions. In this blog post, we’ll explore the five best candlestick patterns and provide insights on how to trade them effectively. We’ll also address common issues […]

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The Wrong Way to Trade Candlestick Patterns (Common Mistakes)

Japanese candlesticks are a widely used charting technique in technical analysis, offering insights into price action and helping traders predict future price movements. While they are a powerful tool, new traders often make common mistakes when using Japanese candlesticks. Here are some of those mistakes and tips on how to avoid them: 1. Searching for […]

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Best Strategies for Trading Candlestick Patterns

Trading price action through candlestick patterns is one of the most effective methods for identifying market opportunities. Candlesticks visually represent price movements and provide traders with essential data at a glance. Trading strategies based on candlesticks involve identifying high-probability patterns for market entry and managing trades according to pre-established rules that align with your money […]

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