Are you talking of all the candles and Doji A and Doji B in the Big Circle
Many thanks for the opportunity you provided for me and other subscribers to learn from you. You are really helping to put some fresh impetus into my trading experience.
I have been reviewing your webinar on Cross bars trading and would appreciate your answers to the question below each section:
Cross trading Picture1
The analysis you gave in the webinar was :
Entry timing is cross bar (Doji) appear, price went up and an AIR POCKET appeared. Then sell stop to cross bar centre.
Target is cross bar height low
Stop loss is cross bar high.
Question: You mentioned next candle many times in the analysis but did not point to it on the screen. Are you talking of all the candles and Doji A and Doji B in the Big Circle?
Important Candlestick components
Candlestick patterns are widely used trading tools.
Traders analyze their safe investment time analyzing the candlestick patterns of the market, which is connected to the expectations, trader flow and the variation of prices.
To get the best advantage from candlestick patterns, traders should have proper knowledge about the pattern.
The first step of knowing about the candlestick pattern is to know about their components.
Candlesticks have a body, shadows also known as wicks or tails and color.
Basically candlesticks are either green or red.
The candles are created from the adjustments of open, high, low and close prices.
A bullish candle is represented by a green candle which shows the highest price in the upper wick, the lowest in the lower wick, the opening price in the bottom of the candlestick body and the closing price in the starting point of the body.
A bearish candle is represented with a red candlestick and the closing price is shown in the bottom of the body and the opening price at the starting of the body.
The size of the body and the wick is very important as these components create various patterns which signify to various conditions of the market and help a trader to take a decision about the trading.
The most common patterns are hammer, hanging man, Doji, gravestone etc.
Many of these4 patterns look quite similar.
Most of the expert traders always trust on a pattern zone, instead of trusting just the pattern of that day.
Analyzing any candlestick pattern and trading trusting them is not easy for the traders.
But the best way to make a decision is by following the patterns of a week and then combining them to get a proper result.
Whatever the methods are, the high accuracy rate of candlestick pattern analyzing is making it popular to the traders and might continue to do it.