Double top and bottom pullbacks candlesticks

ByCandlestick

Double top and bottom pullbacks candlesticks The double top pullbacks candlestick pattern is formed when the market prices rise, but upon reaching the previous resistance levels, the market prices are unable to go past through (there is no breakout); this occurs twice hence the name double. On the other hand a double bottom pullback pattern…

Trend line channel failed breakouts candlesticks

ByCandlestick

Trend line channel failed breakouts candlesticks There are a number of times that a trader will find himself or herself closing his orders with a negative due to a reverse of an anticipated breakout. The breakout occurs prompting the trader to place an order, but after the breakout candlestick closes, the next candlestick to form…