pattern in the two-30minute candlesticks that gave that 1hr candlestick a shooting star? Heres the chart of what happened: I strongly recommend that you use bullish reversal candlesticks as a signal for executing your buy/long trades. Another method of take profit that is commonly used is to measure the height of the triangle and if the height is say 100 pips then that is your take profit target. If you are a woman, you may change a bullish candlestick to pink! In here, I will be mostly be talking in terms of using price action in the currency market but as Ive mentioned, the concepts are universal and can be applied to any financial market. H Hedging Transactions designed to protect an existing open position if the market moves in the opposite direction. And even though you are trading with a setup in the daily chart, for your trade entry, you are actually switching to the smaller timeframe and watching for a sell signal in the 1hr timeframe? They all mean the same and refer to the shooting star candlestick pattern. You cannot be a confident price action trader until you do this.
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For those that love moving averages, what you can do is to look reversal candlesticks as free money in forex price starts to go back to touch the moving average lines and these are used as your confirmation signal to buy or sell. Find your best timeframe to trade. C, cable, forex traders use the term cable when talking about the currency pair. But theres something else about priceit has a time component. (I have never seen a pink and purple candlestick yet). Please consider that for withdrawing fund from your account, you should verify your account by completing the verification process in your Client Cabinet panel. The chart below makes this concept a bit more clearer: So the big question is: how to spot trend continuity and execute trades at the right time? You can be out of pocket by 100-500 or more. Here is an example shown on the chart below: So when you see such happening, you should be looking for bearish reversal candlestick to go short.
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