Candlestick Patterns Every Trader Should Know

10/29/2009 10:44 am EST

Focus: FOREX

Tim Bourquin

Co-Founder, The Traders Expo and The Futures & Forex Expo

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Which candlestick patterns are working best in these markets? Candlestick patterns have become a common analysis tool for traders, yet just 20 years ago, only a few dedicated technical analysts used candlestick charts to find hidden opportunities and early signs of change. In this interview, we talk with Melvin Pasternak, author of 21 Candlesticks Every Trader Should Know. When I ask Dr. Pasternak to choose just one candlestick he would use, he reveals the one type that has been the most successful at signaling a change in the market. He also discusses two stocks that have had interesting candlestick patterns present themselves in the past few weeks. Finally, we discuss why he thinks a certain sector is going to outperform all others during the coming economic recovery.