I have been asked to send out my candle teaching
I will send them out over the next few days
I will do new ones as well
I wil send them out to my email list so as not to get them confused
if you want to be on my list email me @[email protected]
Teb
1st Candle Formations .. 3 Candle Reversal /With Pin Candle
One of my favourite candle formations is the 3 candle reversal .. variation with a big pin candle (nose or tail)The “Pin” is the big shaddow on the 2nd candle in the formation. I call them “nose or tail”. . (ie. The chart I am using is an up trend: Reverse everything in a down trend)
Here is a trade I took. when I see one as clear as this one I will take it and say thanks!
Set Up
1. We want to see this Candle formation at the end of a strong trend. The longer the better .
I like at lest 10 candles in the trend . An up trend is higher highs and higher lows.
2. We want to see a big Pin Candle (2nd candle) . the Pin part of the candle . the bigger the better .
Of coarse the tail/nose going opposite to the old trend.
3. Best if the Pin Candle’s colour is opposite to the old trend’s colour.
4. Get in 1 pip (plus spread) below candle 3 in the pattern. white line.
5. Often it will be the 4 candle you enter on, but not always.
6.1st target (blue line) the number of pips from the top of Pin Candle (2nd candle)(pink line) to bottom of 3rd Candle (white line) : pink line to white line. = white line to blue line.
7. Stop loss a few pips into the nose/tail
Strongest trading use:
1st Reversal on the 5 min chart to the main trend on the 30 min chart/ trend.
2nd Reversal on the 1 min chart to the main trend on the 5/30 min chart/ trend.
I will send them out over the next few days
I will do new ones as well
I wil send them out to my email list so as not to get them confused
if you want to be on my list email me @[email protected]
Teb
1st Candle Formations .. 3 Candle Reversal /With Pin Candle
One of my favourite candle formations is the 3 candle reversal .. variation with a big pin candle (nose or tail)The “Pin” is the big shaddow on the 2nd candle in the formation. I call them “nose or tail”. . (ie. The chart I am using is an up trend: Reverse everything in a down trend)
Here is a trade I took. when I see one as clear as this one I will take it and say thanks!
Set Up
1. We want to see this Candle formation at the end of a strong trend. The longer the better .
I like at lest 10 candles in the trend . An up trend is higher highs and higher lows.
2. We want to see a big Pin Candle (2nd candle) . the Pin part of the candle . the bigger the better .
Of coarse the tail/nose going opposite to the old trend.
3. Best if the Pin Candle’s colour is opposite to the old trend’s colour.
4. Get in 1 pip (plus spread) below candle 3 in the pattern. white line.
5. Often it will be the 4 candle you enter on, but not always.
6.1st target (blue line) the number of pips from the top of Pin Candle (2nd candle)(pink line) to bottom of 3rd Candle (white line) : pink line to white line. = white line to blue line.
7. Stop loss a few pips into the nose/tail
Strongest trading use:
1st Reversal on the 5 min chart to the main trend on the 30 min chart/ trend.
2nd Reversal on the 1 min chart to the main trend on the 5/30 min chart/ trend.