DOUBLE TOP & DOUBLE BOTTOM ARE REVERSAL PATTERN
Double top is the price up to the resistance part 2 times. Strong resistance causes the price to not be able to break the resistance has fallen. DOUBLE TOP: SELL ONLY
Double bottom is the price up to the support as many as 2 times. The strong support section causes the price not to fall further and continue to rise. DOUBLE BOTTOM: BUY ONLY
Both of these patterns need to make neckline breakout confirmations for our entry😎
Double top is the price up to the resistance part 2 times. Strong resistance causes the price to not be able to break the resistance has fallen. DOUBLE TOP: SELL ONLY
Double bottom is the price up to the support as many as 2 times. The strong support section causes the price not to fall further and continue to rise. DOUBLE BOTTOM: BUY ONLY
Both of these patterns need to make neckline breakout confirmations for our entry😎
How to Find Mother Candle
Actually there are several ways to know a candle can be said to be a Mother Candle but here we will focus on only one way, a mother candle is a candle with high and low shadow conditions for the next four candles. We call it the Radar Mother Candle (MC) technique.
Actually there are several ways to know a candle can be said to be a Mother Candle but here we will focus on only one way, a mother candle is a candle with high and low shadow conditions for the next four candles. We call it the Radar Mother Candle (MC) technique.
“What is a Mother Candle?”
In fact, there are many who teach Mother candle, but it is not satisfactory to teach and does not give a clear understanding of whether a candle can be said to be a mother candle and a failed mother candle. That's why sood explains Mother candle that sood once studied. Mother candle with 4 forms of candle shadow as the main condition for the formation of this pattern and 3 candles as a signal we can make an entry
In fact, there are many who teach Mother candle, but it is not satisfactory to teach and does not give a clear understanding of whether a candle can be said to be a mother candle and a failed mother candle. That's why sood explains Mother candle that sood once studied. Mother candle with 4 forms of candle shadow as the main condition for the formation of this pattern and 3 candles as a signal we can make an entry
Mother Candle Method
In this Mother Candle technique we will use a breakout trading technique against the shadow of the Mother candle such as "Open when the price breaks the Resistance area or when the price breaks the Support area of the Mother candle."
In this Mother Candle technique we will use a breakout trading technique against the shadow of the Mother candle such as "Open when the price breaks the Resistance area or when the price breaks the Support area of the Mother candle."
The setup above is an example of a Valid MC Breakout Setup where B1 managed to break the High of the Mother Candle. A solid setup must break first and clearly is no exception to this setup
Some tips to consider in using this technique :
️- Don't trade in the Support and Resistance Zone
️- If the SnR Zone is near the close of the Master candle, there is no need for entry
️- Only trade when B1 B2 B3 Candle breaks or breaks High/Low of Mother Candle
️- Master Candle Size 30-105 pips (Size is high and low calculated from
shadows)
️- If the size of the mother candle is smaller or larger than the range, it's better not to entry
Some tips to consider in using this technique :
️- Don't trade in the Support and Resistance Zone
️- If the SnR Zone is near the close of the Master candle, there is no need for entry
️- Only trade when B1 B2 B3 Candle breaks or breaks High/Low of Mother Candle
️- Master Candle Size 30-105 pips (Size is high and low calculated from
shadows)
️- If the size of the mother candle is smaller or larger than the range, it's better not to entry
BREAKOUT AND REJECT
In trading, breakout is one of the important things that every trader needs to know and learn.
This is because most of the techniques used for trading use only 2 concepts, namely BREAKOUT and REVERSAL.
To determine that REVERSAL has occurred also requires the occurrence of a BREAKOUT.
When we learn about BREAKOUT, we will indirectly learn some things about REVERSAL.
In trading, breakout is one of the important things that every trader needs to know and learn.
This is because most of the techniques used for trading use only 2 concepts, namely BREAKOUT and REVERSAL.
To determine that REVERSAL has occurred also requires the occurrence of a BREAKOUT.
When we learn about BREAKOUT, we will indirectly learn some things about REVERSAL.