Candle Formation
Diupdate
This post is not a trading idea, but for our learning together.
1. False Break
In general, many of us know that the false break is when the price breaks through the Resistance/Support area but the candle fails to close outside that area. When this happens the candle will create a wick.
However, a false break can also mean the candle has successfully closed outside the S/R area, but in the next candle the candle reverses direction again.
As in the example on the left side, there are several examples of candle formations that indicate a false break.
When this candle formation is formed we can enter the next candle with a stop loss above the previous candle (sell) or below the previous candle (buy).
2. Inside Bar & engulfing Candle
For inside bars, it is very good to use for a fairly strong trend. i.e. when the price has no clear correction or pullback.
for entry using this candle formation can be seen on the chart.
As for the Engulfing Candle, it can be used when a trend occurs and the price forms a pullback or correction. When the price pulls back, look for this candle formation to enter as a trend continuation.
1. False Break
In general, many of us know that the false break is when the price breaks through the Resistance/Support area but the candle fails to close outside that area. When this happens the candle will create a wick.
However, a false break can also mean the candle has successfully closed outside the S/R area, but in the next candle the candle reverses direction again.
As in the example on the left side, there are several examples of candle formations that indicate a false break.
When this candle formation is formed we can enter the next candle with a stop loss above the previous candle (sell) or below the previous candle (buy).
2. Inside Bar & engulfing Candle
For inside bars, it is very good to use for a fairly strong trend. i.e. when the price has no clear correction or pullback.
for entry using this candle formation can be seen on the chart.
As for the Engulfing Candle, it can be used when a trend occurs and the price forms a pullback or correction. When the price pulls back, look for this candle formation to enter as a trend continuation.
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Patternception
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