DislikedOne important thing to remember about candlestick formation is that it is indeed more important WHERE in the chart they occur than the actual formation in itself. I mean, a hammer or a morning star right off a confluence of support (let's say a fib retracement + a previous resistance level turned now support) has a much stronger chances than a morning star in the middle of nowhere.
So, in my opinion, searching for candlestick formation without drawing levels of possible support/resistance is futile.
Another point: price targets. How do you guys go about price targeting when it comes to candlestick trading? what does the "theory book" say?Ignored
some times the revers candles only help to confirm the trend reverse from the strongest SUP or RIS level in this case we should increase our target and run profit.
and some times Dojes ,Evening ,morning star.....could alert me early near to the strong level iam concentrating in and its high profit chance we should take.
the mean idea i don,t use the reverse candles if i dont have a technical reason !!!
I discovered amazing relation between Japanies candles and Divrenges explaining the Market Syciology with great profit.
another thing every reverse candle has a special SL and special Target
Every order...... we shouldn,t risk more than 2% whatever our SL is 150 pips or 40 pips.