okoukonicharles

The BPC Strategy

Education
FX:GBPUSD   British Pound / U.S. Dollar
The BPC Strategy is used for entering trades when there's been a breakout of a level or zone (horizontal or trend πŸ“‰ πŸ“ˆ line(s) which represent support or resistance).

If the breakout is sufficient and clear enough without any disputes and there's a clear enough pullback followed by a sign of continuation, a trade can be entered.

So BPC can then be interpreted as Breakout, Pullback and Continuation.

For a breakout of a level or zone of support, at the end of the pullback, there should be a candlestick πŸ•―οΈ pattern that indicates a continuation of the downward πŸ‘‡β¬‡οΈ trend πŸ“‰.

For a breakout of a level or zone of resistance, at the end of the pullback, there should be a candlestick πŸ•―οΈ pattern that indicates a continuation of the upward πŸ‘† ⬆️ trend πŸ“ˆ; in the chart shown for GBPUSD, the candlestick πŸ•―οΈ pattern is a bullish harami candlestick πŸ•―οΈ pattern which indicates a likelihood of upward momentum.

There are three major reliable candlestick πŸ•―οΈ patterns for trade entry when using the BPC Strategy. They are:

1. Harami candlestick πŸ•―οΈ pattern (bullish/bearish).

2. Engulfing candlestick πŸ•―οΈ pattern (bullish/bearish).

3. Hammer πŸ”¨/pin bar (bullish) or inverted hammer/inverted pin bar (bearish) candlestick πŸ•―οΈ pattern.
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