ForexMetals

Some people predicted it long ago, but no one really believed it until today. It was announced by the BIS (Bank for International Settlements), IMF (International Monetary Fund) and the world’s leading private banking institutions that the traditional Forex market is going to be closed very soon. The retail Forex market attracted to much attention from the general public, creating riches for some and making others poor. It was decided that all on-line Forex brokers should be closed during the next 4 weeks, with all currently remaining traders’ funds donated to the various charities throughout the world. The governments of the G20 countries will discuss the creation of a single super-national Forex broker that will offer just a single currency pair for retail trading purposes — OCD/ZRP (Oceanian Dollar/Zeldian Rupee), with the daily trading volume of about 15,000 units. The registration with the new broker will be limited only to all currently existing Forex traders, so that no new traders will be appearing.

Many traders ask me for the detailed descriptions of the Japanese candlestick patterns that are detected by the MT4 indicator Pattern Recognition Master. So, here’s the list of the patterns that it can recognize with the corresponding chart pictures and signal descriptions:

Bearish patterns
	Shooting star. Can signal an end of the bullish trend. Should be confirmed by other patterns. The longer is the shadow the stronger is the signal.
	Evening star. Acts as a stronger trend reversal signal. Note that the shadows should be very short and the body shouldn?t large as well.
	Evening doji star. Almost the same as previous, but some traders consider it a stronger signal.
	Dark cloud pattern. The two-candle pattern is ending the bullish trend. Note the opening of the second candle — it should be above the first one?s close. Second candle should close below the 50% of first candle?s body. Both bodies should be long enough. Moderately strong signal.
	Bearish engulfing pattern. This two-candle pattern appears at the end of the uptrend. Second (bearish) candle should open higher than first candle?s high and should close above the first one?s low (completely engulf it). Moderately strong signal.
Bullish patterns
	Bullish hammer. Can signal an end of the bearish trend. Should be confirmed by other patterns. The longer is the shadow the stronger is the signal.
	Morning star. Acts as a stronger trend reversal signal. Note that the shadows should be very short and the body shouldn?t large as well.
	Morning doji star. Almost the same as previous, but some traders consider it a stronger signal.
	Piercing line pattern. The two-candle pattern is ending the bearish trend. Note the opening of the second candle — it should be below the first one?s close. Second candle should close above the 50% of first candle?s body. Both bodies should be long enough. Moderately strong signal.
	Bullish engulfing pattern. This two-candle pattern appears at the end of the downtrend. Second (bullish) candle should open lower than first candle?s low and should close above first one?s high (completely engulf it). Moderately strong signal.

If you never hear about Pattern Recognition Master before and don’t want to detect these patterns on your own, then you can simply download this wonderful indicator.

LiteForex broker announced a promotion campaign for the Forex traders from the following list of countries: U.S., Nigeria, Brazil, Thailand, Malaysia, Indonesia and Russia. Anyone who opens account between the April 1st to June 30th, makes his first deposit and applies for participation in the campaign will receive 10% bonus on their deposit (up to $10,000). The profit from the trading with this bonus can be freely withdrawn, while the bonus itself can be withdrawn only after a certain amount of traded positions — 20 positions should be closed with no less than 1% of original deposit taking part in them.