Why that’s Lose?
Hello Mr. Long,
I hope u are fine.
I still try strategy 24 candlesticks but i have some trades lose.
I want know why this lose for more filter this strategy.
1- I send you 3 examples in pictures for explain me why that’s lose ?
2- I hope you explain more about this strategy 24 Candlesticks.
Have a good day.
Simple Candlestick Patterns
In technical trading, a candlestick pattern shows a movement in prices shown graphically on a candlestick chart that can predict a particular market movement.
The recognition of the pattern is important in technical trading.
There are 42 recognized patterns that can be split into simple and complex patterns.
Simple patterns are formed by only one candlestick.
The candlesticks can be red or green, in some case which also can be black or white.
A red or black candle shows that the close is lower than open.
A green or white candle shows the open is below the case.
There are many simple patterns available.
The most common simple patterns are hammer, the hanging man, Doji, inverted hammer, shooting star, marubozu, black body, white body, inverted black hammer etc.
A big black candle has an unusually long black body with a wide range between high and low.
Prices open near the high and close near the low.
It is a bearish pattern.
A white big candle is just the opposite of the big black candle and it is a bullish pattern.
A doji looks like two crossed straight lines.
Dojis always show the instability of the market.
A hammer has a small body with long wick and it looks like a hammer.
It is a bullish pattern and is seen after a downtrend.
An inverted hammer is just the opposite shape of the hammer.
There are also white body, black body, shaven head, shaven bottom, shooting star and others.
Each simple pattern tells something about that day’s opening and close price and some of them are also signs of trend changes.
But complex patterns are more accurate than the simple patterns as they are mainly zonal patterns which state the position of buyers and sellers in market completely.
But simple patterns are important for knowing some points and also used to figure out other patterns.