The Master Candle is an unusually large candlestick that engulfs 5-7 candlesticks on the left, the main rule is that within the Master Candle there can be 3-5 candlesticks before the breakout. If we have only 2 candlesticks inside the master candle - the setup is not valid, if I have more than 5 candlesticks inside the master candle - the setup is not valid. When a Breakout occurs, we use the size of the Master Candle to determine our Profit Target.
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Master Candle - Definition
- Thread starter Neca
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