The most bullish of the candlestick pattern is the long white candle. It represents that day when bulls have been in total control of the market throughout the trading day pushing prices higher from the opening to the closing.

As prices rise through the day, sellers do come in but not enough to stop the prices from continuing to rise. When sellers do show up during the trading day, buyers buy from them and the prices move higher.

Now, what this means is that prices have been constantly rising throughout the trading day. The closing price was equal to the high of the day or very near the high of the day. This is an indication that the buyers are not done with their buying. The following day the bulls will still be in control and pushing the prices further higher. This is an indication of the fact that there are not enough stocks or securities in the market to satisfy the buying appetite of the investors. With high demand and low supply, the prices will continue to rise!

In case of a true white Marubozu, the opening price is equal to the low of the day and the closing price is equal to the high for the day. Now, this might occur occasionally. For our purposes, a white candle may have some wick on its both ends. What this means is that the opening price in case of a long white candle will be close to the low of the day and the closing price will be close to the high for the day.

How do you know that this is indeed the white long candle? You wil find many bullish white candles on the chart. Off course, everyone will not be the white long candle. When you find that 90% of the area between the low and high of the day is covered by the candle body, you know that this is indeed a long white candle.

On a long white candle day, a lot of price action is covered by a very short amount of time. Price action doesn’t move in one direction for that matter without retracing some part of it. This normal retracing of the price action gives you a chance to act on the signal provided by the bullish long white candle.

With long white candlesticks, the low price on the candlestick is a good support level. Support is the level where the buyers are expected to support the price of the stock or for that matter the security.

Now there are three variations to the long white candle. The long white Marubozu without any wick, this is the most bullish. The other is the closing white Marubozu. In this case, the close is equal to the high meaning there is no wick on the top. The other is the opening white Marubozu. In this case, the opening price is equal to the low meaning that there is no wick on the bottom.

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Economics is the most important subject in the lives of individual, companies and countries. A ton of economic reports get released daily for the consumption of the markets. Some of these economic reports have the potential of moving the markets in a big way. For some forex, futures and options traders, trading these economic reports is a way of life. Each market has got its own favorite reports. But some reports have the potential of moving almost all the markets.

Gross Domestic Product, the Consumer and the Producer Price Index, the monthly Employment Reports, the Federal Reserve’s Beige Book and the Institute for Supply Management (ISM) are some of the important economic reports that you should be aware of as a trader. You simply cannot ignore these reports. These economic reports are considered to be important trend setters in different markets.

Now, you can know the date of release of these economic reports by looking at the Economic Calendar. Each month, most of these reports are released by the different agencies that includes both public as well as private at fixed dates. By looking at the Economic Calendar, you can know these dates as it provides the listing of dates when these reports will be released.

Now, FOMC Meeting Minutes are considered to be very important as interest rate changes are decided in the FOMC Meeting. FOMC stands for the Federal Open Market Committee. The other important reports can be the CPI ( Consumer Price Index) and the PPI ( Producer Price Index). Now, you never know how markets are going to react to each one of these economic reports. Some are given more importance by the markets. But this preferrence also keeps on changing.

Now, Non Farm Payroll Report or what you call the NFP Report is the most market moving report in the recent times. This report is released by the US DOL (Department of Labor) and it gives the state of employment in the economy during the last month period. It is released on the first Friday of each month exactly at 8:30 AM EST. There are NFP Report Traders who easily make 150-200 pips at this time within minutes.

The release of employment figures is usually followed by frenzied trading that can last from a few minutes to the entire day depending on what the data shows and what the market was expecting.

NFP Report has become important in the last few years keeping in view the slow economic growth. Now, as the economy shifts gear from slow growth to high growth the state of employment figures can become highly important for the economy. This report is used by the traders, investors and Wall Street Analyst to anticipate any interest rate changes in the economy. In the end, it is the interest rates that stand at the center of the financial universe!

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A Doji Candlestick Pattern is formed when the opening and the closing prices are the same. So, there is no stick on the candlestick. There are some variations but essentially a Doji is almost all wicks with no body. A Doji looks more like a cross rather than a candlestick pattern.

So for a Doji to be truly formed on a trading day, throughtout the trading day heavy buying or selling may take place but at the end of the day, the price should be where it had been at the start. In other words, the opening and the closing prices should be the same for a Doji to be formed.

It is a signal that the battle between the bulls and the bears had been a draw during the trading day when a Doji is formed with the opening and the closing prices equal. Soon, either the bulls or the bears are going to previal. In other words, a trend reversal is about to take place.

So how is a Dragonfly Doji is formed? It is formed when the security price opens. It is traded down during the early part of the day. At some point in the trading day, the price action starts to recover and climb. It eventually closes at the high which happens to equal the open of the day. Something unique! Now, a Dragonfly Doji is a unique variation to the Doji Candlestick Pattern. It is formed when the opening, the closing and the high prices are all equal. Something quite rare and unique.

In other words, the open, the close and the high for the day are the same for the Dragonfly Doji to form. So when a Dragonfly Doji Pattern is formed, the bears had been in control of the market at the start. But at some point in the trading day, the bulls become active and step in. Bulls start buying. This takes the prices up and at the end of the day, the security price ends up right where it had started.

The low on this pattern can be taken as the support level because this was the level at which the bears entered the market and started buying. Dragonfly Doji is considered to be a bullish candlestick pattern.

The second important variation to the Doji is the Bearish Gravestone Doji. This pattern is formed when the open and close of the day is equal to the low of the day. This is something opposite to the Dragonfly Doji where the open, the close and the high were equal. When a Bearish Gravestone Doji Pattern is formed, it is a signal that a prolonged downtrend is about to start in the market.

As said before, this pattern is rare but very easy to spot on the chart. When it does form, get ready for a trend change!

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Trend is your friend. But how do you know it is really your friend. Trend can only be your friend if you know that the trend is going to continue or it is about to reverse ahead. Otherwize, trend trading is going to give you a loss. Candlestick patterns can help you anticipate whether a trend is going to continue or reverse ahead. There are many candlestick patterns. Bullish Necklines is one of them. It is a two stick trend confirmation pattern that tells that the trend is expected to continue. There are two type of Neckline Patterns, the In Neck and the Out Neck. When you spot the Bullish Neckline in an uptrend, it is a signal that the trend is expected to continue for sometime.

Necklines pattern is a two stick pattern. What this means is that it takes two days on the daily chart for this pattern to form. On the first day, there will be a long bullish candle indicating that heavy buying took place during the day. On the second day or what you call the signal day, there will be a bearish candle that can be long or short with a closing price almost close to the first day.

Now,there can be two types of Neckline Patterns depending on the closing prices on the signal and the setup days. If the closing price on the signal day is almost near the closing price on the setup day, it is an On Neck Pattern. In case, if the closing price on the first day is little lower than the closing price on the signal day, it is a In Neck Pattern.

You might be thinking that this is not much of a difference. Well, this is true but nevertheless, you should be aware of this slight difference between the In Neck and the On Neck Patterns. Both these patterns are telling the same thing that the uptrend is going to continue in the near future. So even if you are not able to differentiate between the In Neck and the On Neck, don’t worry much. You must at least be able to identify that a Neckline Pattern has been formed.

Now, let’s talk about a trend reversal candlestick pattern; The Bearish Meeting Line. On the first day or what you call the setup day, you will find a long bullish candle.What this means is that heavy buying took place throughout the day. On the second day or what you call the signal day, you will find a gap opening. This is a Bearish Meeting Line Trend Reversal Pattern. What is means is that the trend is about to reverse itself soon! This gap entices the sellers to start selling that continues throughout the day. This will result in a long bearish candle on the second or what you call the signal day. This long bearish candle should have a close very near the open of the low of the day as well as the close should be very near to the close on the first or what you call the setup day.

In case of the bearish piercing line candlestick pattern, the setup day is bullish with long bullish candle. The signal day is bearish with an opening higher than the setup days high. What this means is that on the signal day sellers came rushing in, pushing prices down through the setup days opening price and below its midpoint.

When this Bearish Piercing Line Candlestick Pattern is formed, it means that the price action has lost it’s momentum. This pattern usually occurs in the last stages of an uptrend and when it happens, it means that the trend is about to reverse itself.

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If you scan the internet, you will find out that a new trading robot gets released almost every month.

So with a number of these programs floating in the internet, I can just imagine how confusing it might be for consumers to pick out the right one.

Forex Autopilot is an automated forex trading program that works in Metatrader platform.

It was designed by professional day trader named Marcus Leary. It is famously advertised in the internet as a program that will make inexperienced traders into millionaires just with a few clicks a day.

This can be such an awesome claim especially for those who would like to be rich without having to do so much, however there are a few things that you have to learn about Forex Autopilot.

Before you get into any decision, it’s imperative that you know what you’re getting into.

What really then is Forex Autopilot? In a nutshell, Forex Autopilot is a kind of automated currency trading bot that can trade on your behalf by using a fund that you have initially set-up.

However, before you the program go on autopilot, you have to set the parameters of the program first which may require a little knowledge about the foreign exchange.

But if you are uncertain of the entire program, there is a demonstration mode that you can access which includes a dummy account that you can run for as long as you want which you can use to practice on until you get the hang of things and progress to using real money.

Forex Autoplay is pretty accurate which means that losses are rare occurrences. However, when one does encounter a loss, the value can be significant and that can get you broke even before you have build up your profits.

Just so that you do not lose that much, never risk more than 50% of your capital even if the gains may not be that high.

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