Discussion in 'Systems and Methods' started by ForexisLIFE, Dec 17, 2018.
To me, it is the Hanging Man & Inverted Hammer you will find them on all pairs & all time frames. It's the "Tell"
Thanks for the reply.
No problem. I have attached a few examples.
As I mentioned these patterns are good on any pair & any time frame. Also, these patterns are simply double tops & double bottoms M's & W's on their lower time frames & have great R/R with many having very little to zero draw down on your trades.
Another example... 13,550 pip drop off a Hanging Man.
Wow, where can I learn more about this?
Nothing much to learn, just trade them. As I mentioned you'll find them on every pair & every time frame. Take no heat...if it's not going in the intended direction get out with very low DD & always be ready to get back in if they come back into play.
It's the "Tell"
Babypips is a great place to start and it is free.
3 pin bar reversal
The Hammer or the Inverted Hammer. The Hammer is a bullish reversal pattern, which signals that a stock is nearing bottom in a downtrend. ...
The Bullish Engulfing. ...
The Piercing Line. ...
The Morning Star. ...
The Three White Soldiers.
Bar patterns are very machine readable.. makes any edge found there muted if there at all. Many software packages can test bar patterns against any data you toss at it.. most anything yielded fails to cover frictional costs in trading.
If you employ them.. they should some trigger for entry / exit, not the signal itself. (For example, you know you want to go long when some support line is tested.. price goes down to said support line and you see a blow-off bar / price rejection at that level, this is your trigger to enter. You otherwise may not know or feel confident on WHEN to execute your long idea.)
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