Beginning with the standard way of trading the head and shoulders chart pattern, the entry is taken when
the neckline is broken. Some traders wait for a candlestick to fully close below the neckline before entering the trade.
Others jump in as the neckline is broken, making sure to get into the trade before it takes off to the downside.
Your stop loss should be placed above the right shoulder of the pattern. To get your take profit, you measure,
centered between the lows that form the neckline, to the highest high in the head of the pattern. Then take that
same measurement, from the same starting point, and duplicate it to the downside to determine your take profit
The next traditional entry, which I’m calling the “pullback entry,” is similar to the standard entry.
Often when price breaks the neckline of the head and shoulders chart pattern, it will pull back to test the neckline as resistance. When this happens, it can provide a good, slightly more conservative, entry point.
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In the image,you will see a series of hanging man candlestick patterns. In both cases, these formations happened during an uptrend, and in both cases they signaled an upcoming bearish price movement. As you can see, the second set of hanging man candlesticks signaled a full reversal in the trend.
In either case, these candlestick signals would have been a great place to take profits on a bullish trade that you
might have been in, which is how most successful candlestick traders use this particular price action signal.
As demonstrated in the example,you would have been wise to utilize this candlestick formation as an exit signal.
Of course, if you had closed your entire position after the appearance of the first hanging man, your trade would have been almost as successful as the one described in the example, without the extra risk.
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As with most of the price action patterns that I trade, I target a 2:1 reward to risk ratio when trading the
shooting star candlestick pattern. In other words, if I’m risking 50 pips, I place my take profit 100 pips below
You can also use your reward to risk ratio as a filter. For instance, if you calculate that you cannot hit your
full 2:1 take profit before price moves down into an area that you believe could possibly be a strong support zone, you may want to skip the trade or only take the trade if you can get the 50% entry.
One of the nice things about the shooting star candlestick pattern is that it often provides great entries (fewer pips at risk), which in turn makes it more likely that even a short-lived reversal will hit your
full take profit.
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Just weekend!! 😎😎😎
Come ogni sabato, sul nostro sito trovate il RENDICONTO aggiornato dei SEGNALI OPERATIVI "DFTG FUTURES", con le operazioni effettuate fino al 15 febbraio 2019. 📊🎯💻
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Here is an example of a bearish trend and its related swing levels.
In this downtrend we have marked out the swing levels (where old support levels have turned into new resistance).
See how in a bearish trend, the staircase footprint price travels through is inverted to the bullish trend –
just think of someone walking down the stairs this time.
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click on the link in bio or send me a private message
7 4814 days ago
If you want to make money, you should take risks, but your risk should be calculated, don't risk money that
you can't afford to lose. but don't wait for success if you want to play it safe.
If you want to learn a powerful trading method, i highly recommend you to get a copy of my ebook , click on the link in my bio or send me a private message.
Depending on which way the wick or nose produces from the Rejection Candle (or Pin bar signal), will determine
whether it’s a bullish or bearish signal. I like to think of the signal as an arrow on the chart. Imagine the body
of the candle is the arrow head. The wick or nose is the arrow body and the arrow points towards where price wants to go.Here is an example of how a bullish Rejection candle points towards higher prices.
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4 2645 days ago
In the chart shown,the market is in an obvious downwards trend. The only thing you should be thinking when you look at this chart is ‘sell’. Buying Inside Day breakouts against this momentum is such high risk for such small reward, and usually ends up in failure. The trend is your friend, remember. Don’t make it your enemy.
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in bio or send me a private message
There are certain spots/conditions on the charts that are considered to be high risk zones to trade into,
and should be avoided. One of these areas are weekly support and resistance levels, which are one of the major turning points in the market. If you’re fixated on the 15 min chart, you may not even be aware of these levels.
Open up your weekly chart and map out these major termination points. You will be amazed at the price action you can take advantage of here.
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In the example,a sell stop order can be used to automatically activate short trades when price breaches the low
of bearish Power Candle setups. It’s best to enter in with the momentum like this for the extra confirmation
the bearish pressure is still there to drive prices lower.
To learn more,i highly recommend you to get your copy of my ebook, if you are interested, click on the link in bio
or send me a private message
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