Does anyone using 1H time frame and define entry by using previously formed Doji top / bottom? Sometime I got prefect entry, sometimes it's a miss, I am trying to see if anyone using similar method could share a bit about this, thanks.
Does anyone using 1H time frame and define entry by using previously formed Doji top / bottom? Sometime I got prefect entry, sometimes it's a miss, I am trying to see if anyone using similar method could share a bit about this, thanks.
Ignored
Sure, doji are one of the best proven signal under my experience, just check out if the context is alright, like a bullish doji in a support level on a bullish trend.
Does anyone using 1H time frame and define entry by using previously formed Doji top / bottom? Sometime I got prefect entry, sometimes it's a miss, I am trying to see if anyone using similar method could share a bit about this, thanks.
Ignored
You need more criteria than just a doji candle....at least MA, RSI, and Stochastics if you want to have a wider view of where the price action is going.
|
Additional Username
|
Joined Mar 2017
|629 Posts
Doji is very meaningful candle, but I always count it when I get any doji setup with support and resistant level! Besides, I am not interested on lower time frames in this case (H1 minimum)! In the middle path of trend pin bar, inside bar and Jodi are meaningless!
It can be a strong signal, but only if there are other indicators confirming a trading opportunity. Look at how many Daily Doji's there have been on the Dow Jones recently, the last being on Wednesday, but you certainly wouldn't be shorting these because to do so would be a complete gamble. Nothing works in isolation!
It can be a strong signal, but only if there are other indicators confirming a trading opportunity. Look at how many Daily Doji's there have been on the Dow Jones recently, the last being on Wednesday, but you certainly wouldn't be shorting these because to do so would be a complete gamble. Nothing works in isolation!
Ignored
Completely agree with and i think candle sticks are more easier to earn money in forex than any other chart patterns..IMO
|
Joined Jun 2017
|
Status: Starting small and growing. Join me
|299 Posts
I don't really use candlestick patterns much in my trading strategy, but when I was swing trading stocks, dojis and spinning tops were some of the most powerful signals on the daily chart. They get you in for a very low risk high reward trade and can be extremely lucrative when you get them right.
I don't really use candlestick patterns much in my trading strategy, but when I was swing trading stocks, dojis and spinning tops were some of the most powerful signals on the daily chart. They get you in for a very low risk high reward trade and can be extremely lucrative when you get them right.
Ignored
So which trading strategy are you using right now? If possible, please describe more…
{quote} So which trading strategy are you using right now? If possible, please describe more
Ignored
I trade intraday trends. I use the stochastic oscillator for my entry signals and trade in the direction of the trend, which I use the moving average to determine. It's really simple in theory, but it's not for everyone in the mental aspect of it. Gains can be huge when they come around, but the win rate is around 30%, so it can be mentally challenging if you are someone concerned with being right very often and can't stomach drawdown very well.
