What point and how do you know that the Price is no longer going the direction
Reader’s message
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Dear long,
There are two types of entry points: False and true entry points. True entry point is that candlestick pattern that gets you into a position that will eventually become a strong trend. While false entry point on the other hand gets you into a position, but the price eventually goes the opposite direction. In the case of false entry signal at what point and how do you know that the price is no longer going the direction you thought and then exit the trade to reduce loss.
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Group harami appeare then
the price is no longer going the direction
what is Group harami?
Group harami is consist of 3 Candlesticks
click here
I want to know, in taking trading decision do you focus only on a particular timeframe
Japanese Candlesticks Summary
If someone needs to know about the candlesticks in a very short time, they need the basic concept of the candlesticks.
The Japanese candlesticks are formed with the high, low, opening and closing price of the market.
The candles are either hollow or black.
If the close is above the open, then a hollow candlestick or white candlestick is drawn.
If the close is below the open, then a filled candlestick or black candlestick is drawn.
The hollow or filled section of the candlestick is called the “real body” or body.
The thin lines poking above and below the body display the high/low range and are called shadows, wicks or tails
The top of the upper shadow is the highest price, commonly known as high.
The bottom of the lower shadow is the lowest price, commonly known as low.
Long bodies indicate strong buying or selling. The longer the body is, the more intense the buying or selling pressure.
Short bodies indicate that very little buying or selling activity has been done that day.
In street Forex language, bulls mean buyers and bears mean sellers.
Upper shadows signify the session is high.
Lower shadows signify the session is low.
There are many types of Japanese candlestick patterns, but they can be categorized into how many bars make up the candlestick pattern.
There are single, dual and triple candlestick formations.
The most common mistakes traders do while trading with candlestick charts is they blindly go with the prediction of reversal or continuation.
They should always consider the trend and other important information of the market.
Japanese candlestick charts can only predict the market for a short time.
But there can always be exceptions and the market trend can change at any time.
So traders should take the risk knowing that the candlesticks cannot always be accurate.
