Ceetrader7
New Member
CONFIRMATION
(a) Bearish Reversal Pattern, may be black or white, colour doesn’t matter but location
A long upper shadow is at least twice of the real body. Has a small Lower shadow or not at all. A Shadow formed represent higher prices rejection. A Black or Red Shooting Star is more bearish than a White or Green one. The Price will usually trade bellow the real body, therefore it is important to put our Stop Loss few pips above upper shadow. We look for them at Resistance Level to Sell. (b) BULLSSH REVERSAL
Bullish single candle reversal pattern. Market ideally gaps down to a hammer candle. Colour may be either red or green. Lower shadow is at least twice of the real body. St has a small upper shadow or no shadow at all. A white hammer is more bullish than a black one, due to the bulls ability to force price close above the opening. The price usually trades above the hammer making us put our stop a few pips bellow the tail or wick. WE LOOK FOR THEM AT SUPPORT TO GO LONG
SUPPORT AND RESSSTANCE Support and resistance is one of the most widely used concepts in trading, approximately all price action traders depend on it, as one believes in support and resistance, if the market may make them vanish, I for sure will be leaving Forex trading. Strangely enough, everyone seems to have their own idea on how you should measure support and resistance.
(a) Bearish Reversal Pattern, may be black or white, colour doesn’t matter but location
A long upper shadow is at least twice of the real body. Has a small Lower shadow or not at all. A Shadow formed represent higher prices rejection. A Black or Red Shooting Star is more bearish than a White or Green one. The Price will usually trade bellow the real body, therefore it is important to put our Stop Loss few pips above upper shadow. We look for them at Resistance Level to Sell. (b) BULLSSH REVERSAL
Bullish single candle reversal pattern. Market ideally gaps down to a hammer candle. Colour may be either red or green. Lower shadow is at least twice of the real body. St has a small upper shadow or no shadow at all. A white hammer is more bullish than a black one, due to the bulls ability to force price close above the opening. The price usually trades above the hammer making us put our stop a few pips bellow the tail or wick. WE LOOK FOR THEM AT SUPPORT TO GO LONG
SUPPORT AND RESSSTANCE Support and resistance is one of the most widely used concepts in trading, approximately all price action traders depend on it, as one believes in support and resistance, if the market may make them vanish, I for sure will be leaving Forex trading. Strangely enough, everyone seems to have their own idea on how you should measure support and resistance.
