Ok thats it about Examples i will post on second post more but live examples:
Now about SL TP,RRR....
As i said this is new candle formation you can trade with your strategy or you can trade alone aslo you can take litle pips or you can wait more pips that is all about your personality and your apetit of risk...
All guys wich want to work this and practice please aks questions,post you trades,setups...I want to see on many pairs we will work all togehter and i hope we will see green pips...
If you want my skype or something to ask me directly just PM me...
Cheers and GREENPIPS
If you cant undestand this formation this is one of falawers wrote > (Pet)
The formation requires any three candles with the middle candle being the lowest in a buy setup and vice versa for sell setup.
The first candle in formation is Candle 1, the middle candle which is the second candle is the Leading Candle and the third candle is Candle 2.
It dont matter wether Leading candle is either a Pin bar or not, but in most candle cases the Leading candle will show some form of weakness, it could be hammer, doji etc and may not necessary qualify as a "Pin bar" but most remain the low/high of the formation and the range must cover minimum of 50% of either or both Candle 1 and Candle 2.
How long you ve been observing these patterns?
What else u look out for apart from patterns..
Plan the trade,trade the plan
PRO PRICE ACTION TRADING THREAD
My educational thread:Only price action and patience make money in the long run
I look very interested .
All analyzes with number, like fibo , trend line , triangle, candlestick is very interested.
Need a time to find some examples.
Maybe this examples is very difficult to find ?!
Maybe this is leading candle?
The subject of a wonderful and truly effective
And I am a big fan of candles, the Japanese
And soon I will work to explain the subject candles are all filling and a book
Last edited by Passionate Pisces; 08-17-2011 at 12:02 PM. Reason: use of bol fonts and royal blue colour.
The Japanese began using technical analysis to trade rice in the 17th century. While this early version of technical analysis may have been different from the US version initiated by Charles Dow around 1900, many of the guiding principles were very similar.
The "what" (price action) is more important than the "why" (news, earnings, and so on).
All known information is reflected in the price.
Buyers and sellers move markets based on expectations and emotions (fear and greed).
The actual price may not reflect the underlying value.
According to Steve Nison, candlestick charting came later and probably began sometime after 1850. Much of the credit for candlestick development and charting goes to Homma, a legendary rice trader from Sakata. Even though it is not exactly clear "who" created candlesticks, Nison notes that they likely resulted from a collective effort developed over many years of trading.
Formation Candlesticks are formed using the open, high, low and close. Without opening prices, candlestick charts are impossible to draw. If the close is above the open, then a hollow candlestick (usually displayed as white) is drawn. If the close is below the open, then a filled candlestick (usually displayed as black) is drawn. The hollow or filled portion of the candlestick is called the body (also referred to as the "real body"). The long thin lines above and below the body represent the high/low range and are called shadows (also referred to as wicks and tails). The high is marked by the top of the upper shadow and the low by the bottom of the lower
Last edited by kimphuong; 05-26-2011 at 11:19 AM. Reason: image
Compared to traditional bar charts, many traders consider candlestick charts more visually appealing and easier to interpret. Each candlestick provides an easy-to-decipher picture of price action. Immediately a trader can see compare the relationship between the open and close as well as the high and low. The relationship between the open and close is considered vital information and forms the essence of candlesticks. White candlesticks, where the close is greater than the open, indicate buying pressure. Black candlesticks, where the close is less than the open, indicate selling pressure.