here an example for what in my opinion are the best two single candlestick pattern in context of todays trading day
1.) bears tested the pinbar low
price got rejected, not only moved back up but double beyond the open
given the strong pull back into the range, one can only assume it was stop hunting to further boost the move to the upper range boundary
on the way up we hit some stops from the bears too (daily hanging man sellers maybe)
2.) we are on the top of the range, after three hours no bullish pressure emerged, finally in the first 15 minutes of the titanic candle price moved fast near the daily high, luring in, once again, late bulls, who where so impressed by the early london session move, they needed to get in, even more bulls thought it was a good move to go long when the candle was at its lows, they didnt imagine the large drop would disqualify for a continuing upmove, we are not even above the range border, still they bought besides scalper taking profits as we can see from the long lower wick of the candle
1.) bears tested the pinbar low
price got rejected, not only moved back up but double beyond the open
given the strong pull back into the range, one can only assume it was stop hunting to further boost the move to the upper range boundary
on the way up we hit some stops from the bears too (daily hanging man sellers maybe)
2.) we are on the top of the range, after three hours no bullish pressure emerged, finally in the first 15 minutes of the titanic candle price moved fast near the daily high, luring in, once again, late bulls, who where so impressed by the early london session move, they needed to get in, even more bulls thought it was a good move to go long when the candle was at its lows, they didnt imagine the large drop would disqualify for a continuing upmove, we are not even above the range border, still they bought besides scalper taking profits as we can see from the long lower wick of the candle
Attached Image (click to enlarge)
Invincibility lies in the defence, the possibility of victory in the attack
all that matters to me is whether the current structure is valid or broken, and what that means in context of the higher structure