OK here's a few more criteria that I have found to help weed out bad trades.
For a short trade
Look for hammer/reverse hammer/hangman/reverse hangman
The above should have candles on both sides with lower highs and lows
The middle candle which we will call reversal candle should be touching outer band of Bollinger Bands. Candle to the right of reversal bar should preferably be bearish. Body of reversal bar should not be touching 3EMA.
Open trade on close of bar after reversal bar.
FoxyFX
For a short trade
Look for hammer/reverse hammer/hangman/reverse hangman
The above should have candles on both sides with lower highs and lows
The middle candle which we will call reversal candle should be touching outer band of Bollinger Bands. Candle to the right of reversal bar should preferably be bearish. Body of reversal bar should not be touching 3EMA.
Open trade on close of bar after reversal bar.
FoxyFX