Trading

The Only Candlestick Pattern Trading Strategy You Will Ever Need

Not too long ago i was trapped in the mindset that candlestick patterns should just work they’re time-tested patterns that have been used for years right so engulfing candles hammers shooting stars these candlestick patterns should work but even though that’s the case i was consistently losing money when i placed trades using these types of patterns shortly after that

One year ago, I left San Francisco, sold and gave away everything I owned, and moved into a 40-liter backpack. I traveled to 45 cities in 20 t i discovered that they do work these candlestick patterns can work and give you increased odds of success in a trading opportunity but only if you use the correct combination of candlesticks and you do so at areas of confluence so in today’s video what i want to do is share with you the discovery that i made and

my favorite combination of candlesticks to use to enter a trade in an aggressive way that gives me a high like lihood of being correct about the direction of the market in this case it’s going to be the forex market but this type of analysis has worked for me across all financial markets including crypto forex and stocks i’m gonna share with you that

combination of candlesticks along with the confluence i like to use to give myself the best opportunity for success in a trade using these candlestick patterns so if that sounds good to you go ahead and click that like button for me smash it if you want to go ahead and hit subscribe and the notification bell if you are new and

i’ll see you right after the intro and disclaimer okay so here we are on the euro new zealand i’m gonna go ahead and open up a live trade with you using the exact combination of candlestick patterns you’re going to learn in this video and with this being the case i’m going to go ahead and

place my entry here i want my stop loss to be under the zone of structure i’ve laid out which i’ll teach you how to do in this video my first target it’s going to be at a 1.4 to one reward risk ratio let me go ahead and create the order market order i’m gonna do a two percent risk on this specific trade and

i am involved all right let’s go ahead and break down this combination of candlestick patterns i’ll see you there that euro new zealand trade you just saw me enter will be rolling live throughout this video and later on towards the end of the video we will check out how it’s doing and see if it’s hit stops or targets hopefully but for now let’s go ahead and

dive into this combination of candlestick patterns this combination of candlestick patterns has been one of the best discoveries that i’ve made throughout my trading career and anytime you are trading based on candlestick patterns one of the most important parts of that is having specific rules you follow for that candlestick pattern in order

to identify it because otherwise you’re going to be really inconsistent in the way you trade it because of that let me go ahead and show you my rules for hammer and shooting star candles so on the screen you can see a hammer and shooting star candle from my definition i identify these in a very simple and

objective way i take a fibonacci retracement from the low of the candle to the high of the candle for a bullish signal if the entire body meaning the open and close of this candle is above the 38.2 retracement i count that as a buy signal or hammer candle you don’t have to call it a hammer i know this isn’t the exact definition of

More Read Click here

My 2nd Post Click here

Back to top button