Home  |  Forex Research  |  Forex Education  |  Forex Articles   Forex Directory  |  Library  Forex Brokers  Forex Blog  Contact  
  Economic Calendar
  Currency Converter
  Real Time Charts
  Forex Rates
  Forex Video Reports
  Cryptocurrency Prices
  Forex Correlation    
  Overnight Swaps    
  Forex Market Hours    
  Elliott Wave Analysis  
  Forex Trading Signals
  Daily Forex Outlook 
  Daily Gold Analysis   
  Daily Forex Research
  Weekly Forex Research
  Live Forex Updates
  Central Banks News
  Latest Financial News
  Fixed Income Center
  Cryptocurrency News
  Commodities Center
  Stock Market Center  
  Fibonacci Calculator
  Pivot Point Calculator
  PIP Calculator
  Margin Calculator
  Profit Calculator
  Multitarget Calculator
  Position Size Calculator
  Risk & Reward Calculator
  Crypto Calculator





  Forex Articles & Studies
Do Japanese Candlestick Patterns Help Identify Profitable Trading Opportunities? -                An Analysis on Selected Forex Markets
 Authors: Aisha Ahmed Ameen. The British University in Dubai
               Elango Rengasamy. The British University in Dubai
                                         Date: November 2014

Japanese candlestick patterns, an invention of Steve Nison, a stock analyst, have become very popular after it was introduced in 1989 to the Western world. These patterns are technical trading rules that are used to predict movement of prices and directions based on the relationship between opening, high, low and closing prices. Currently, many market participants are using Japanese candlestick patterns as part of their robust trading systems. This research examines the profitability of four bullish and four bearish Japanese candlestick reversal patterns in seven currencies, which represent both advanced and emerging foreign currency markets. These currencies include AUD/USD, USD/CAD, EUR/USD, GBP/USD, USD/INR, USD/JPY and USD/ZAR. The sample covers a 12-year span of 3,129 observations. The ‘z score’ test is used to examine the statistical significance of the returns at 5% level for seven holding periods. The RSI is used with three candlestick patterns to further confirm the results. The findings show strong evidence of some profitable candlestick reversal patterns in foreign currency markets.

 Note: The Below File are in Adobe Acrobat PDF format,  please click here to download Adobe Acrobat Reader For Free.



        Home    |   Links    |    Free Content for your site    |   Privacy Policy & Risk Disclaimer    |  Contact                          Copyright © 2007 Forextradings.com , All rights reserved.


Forextradings.com Disclaimer: The information contained on this website is subject to change without notice, views and opinions expressed on forextradings.com may be those of individual authors and may not necessarily be the views of forextradings.com or its officers and employees, we make no claim to the accuracy or timeless of any information contained herein. We recommend obtaining advice from a suitably qualified financial advisor before entering into any financial transactions or agreements. The use of this website financial transactions or agreements. The use of this website constitutes acceptance of our privacy policy, disclaimer and terms of use. This website is available for information and educational purposes only.

Forextradings.com Risk Warning: Investors looking to trade foreign currencies should know that it is complex and takes expert knowledge and without this knowledge it's very risky. You may lose all your investments in a short time, don't risk more than you can afford to lose.