Hey Traders today I wanted to go over what I believe is one of the best ways to trade any market with Japanese Candlesticks using hammers and shooting stars. Normally you want the wick of the candle to be at least twice the size of the body of the candle. Alot of times they can lead to explosive moves in the markets. So lets dive in and see how to use this...
SHOOTING STAR FORMATION IN UPTREND SUGGEST EITHER THIS IS CORRECTION OR HALT IN TREND WE CAN SEE UP MOVE IN FUTURE BECAUSE BEARS WERE UNABLE TO BREAK 11300 SUPPORT BULLS ARE STRONG THERE. EDUCATION PURPOSE ONLY.
This is the Shooting Star version of the strategy. Inverted Hammer just opposite. Step #1: Attach the Chaikin Money Flow Indicator on your Preferred Time Frame Start first by preparing your charts ready for the battle. Simply attach the Chaikin Money Flow indicator on your favorite time frame. This is the only additional technical tool we’re going to use to...
short all the factors are mentioned on chart
On March 8, 2018, an Inverted Hammer + Bullish Engulfing appeared, signifying a change to the down trend. This is further confirmed by the support line in blue. Stock rallied for roughly a month plus until April 12, where a Hanging Man appeared (Note the Hanging Man is not as potent as a Shooting Star, but it still gives the signal that the bullish trend is...
Shooting Star Candlestick Pattern Definition: When the price highly increases during a day, but decreases to what it was at the beginning of the day or even lower, a considerable bearish retracement is occurred. The candlestick of this price action in the daily time frame is a Shooting Star. The Shooting Star in the daily time frame is a very strong signal for...
Conditions of a Perfect Shooting Star: Body is short. The height of the candlestick (the difference between high and low price) is tall enough and it's more than the Daily ATR(264). The taller the Candlestick is, the stronger the Shooting Star. The upper shadow (also known as upper wick or tail is the distance between the high price and the close or open...
In response for your requests guys to explain the rational behind the live trade we took on GBPCHF. Here is the explanation. On the left hand side daily chart, the price started the bearish behavior on the 78.6 retracement level for the overall bearish wave as shown on chart. As it formed two major bearish shooting star candles. That was not enough for me to...