just wait and place stop order to specific candlestick pattern 


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just wait and place stop order to specific candlestick pattern

readers message
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Just tell me how to apply the daily chart and use it as intraday….
Please give me basic candlestick rules, what is High, Low , close and open in a candlestick.. show me the human emotions..
Thanks
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just wait and place stop order to specific candlestick pattern

basic candlestick rules is if last bar close upper or lower or inside or outside for specific candlestick.
this is very important to identify candlestick pattern
this means wait last bar price action stop
then decide place buy stop order or sell stop order to specific price action pattern.
open and close are an instant moment price action
last bar always action to figure high or low in a candlestick

human emotion appear in a candlestick shadow hige
because shadow price action means temporary high or low and go back and close and anchor risk at shadow high and low emotion level psychologically
anchor risk human emotion becomes large frequency at short time frame
so insatant get rich quick trader do not win. they are part of daily price action.

for these reason if we watch chart on daily basis if last bar upper or lower at previous bar inside or outside white candlestick or black bar or continuation.
then decide what type candlestick pattern to trad.
if white(up) white(up) black(down) black(down) then next bar sell entry basically but to reduce risk place buy stop order to 3rd candlestick or second candlestick open buy stop order because price return into buy stop level
if we need intraday profit then we must place buy stop order or sell stop order to past candlesticks
https://youtu.be/dmHsUNA66Gc