If open bar is near previous bar low then sell entry strategy
Reader’s message
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Sir,
you say, ( Previous bar: inside if open bar is near previous bar low then sell entry target is previous bar near low stop-loss previous bar far high vice versa,……daily time frame best. )
Sir would you mind please provide me a video of this strategy, I will be waiting for your response.
Thanks,
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Here is video
https://youtu.be/Rr7DtId_r_E
Candlestick charts- Some Simple patterns
There are more than 100 simple and complex candlestick patterns available in the market.
Every pattern has its own characteristics and interpretation.
Here are some simple patterns that traders will see frequently in the candlestick chart.
Inverted-hammer
Inverted Hammer is a black or a white candlestick in an upside-down hammer position. This is just the opposite of the hammer sign.
Long-lower-shadow
Long Lower Shadow is a black or a white candlestick.
The candle is formed with a lower tail that has a length of 2/3 or more of the total range of the candlestick.
Normally this pattern is considered a bullish signal when it appears around price support levels.
Long-upper-shadow
Long Upper Shadow is a black or a white candlestick with an upper shadow.
The shadow has a length of 2/3 or more of the total range of the candlestick.
This pattern is considered a bearish signal when it appears around price resistance levels.
Shooting-star
Shooting Star is a black or a white candlestick that has a small body, a long upper shadow and a little or no lower tail.
This pattern is considered as a bearish pattern in an uptrend.
Spinning-top
Spinning Top is a black or a white candlestick with a small body.
The size of shadows can vary.
This is interpreted as a neutral pattern but gains importance when it is part of other formations.
White-body
White Body is formed when the closing price is higher than the opening price and considered a bullish signal.
Shaven-bottom
Shaven bottom is a black or a white candlestick with no lower tail.
Shaven-head
Shaven Head is a black or a white candlestick with no upper shadow.
The simple patterns can show the trend of the market and some of them can predict a rise or fall.
So, traders should know the names of these patterns and use them correctly to predict the upco
ming market trend.