Richard Krivo of DailyFX.

First and foremost, a trader should determine the direction that the market has been taking the pair over time-the longer-term trend. Once that is determined, the trader can then look for entry signals in the direction of that trend, as that will be the direction that offers the greater likelihood of success.

Candlestick Reversal Signal (CRS) | Forex Market Analysis

So, if the pair is in an uptrend bullish bias , we would want to look for candlesticks and candlestick patterns that demonstrate a potential for a bullish reversal. That would be a reversal by price action back in the direction of the trend.

On the chart above, we would be looking at the hammer candlesticks, doji, bullish engulfing patterns, and the morning star pattern for that bullish reversal signal.

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Click to Enlarge So, if the pair is in an uptrend bullish bias , we would want to look for candlesticks and candlestick patterns that demonstrate a potential for a bullish reversal. Related Articles on FOREX.

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