hello everyone,
It's been a long that we haven't discussed anything here..
so our today's topic of discussion is how to trade/play with signs similar to Doji/ dragonfly/hanging-man etc
so we know the sign very well. we are referring here to the candlestick pattern, where there is some conflict between buyers & sellers & both keep trying to push/pull each other resulting in forming a candle where we usually see a small body candle having wicks on both sides.
so our next question is how to trade them..
1. Trend: before trading such patterns the trend should be known very well.
2. Once we have got the trend then wait for the small body candle.
3. Once we have got the candle, mark the high/low of the prior candle of the doji candle.
4. Wait for the next candle to form after the formation of doji candle.
5. once, the marked candle high/ low is breached on a closing basis you are all set to go!
examples shared
Example -1
Example-2
Example-3
Example-4
Example-5
Example-6
Example-7
Example-8
Example-9
I have shared multiple examples regarding the same & hope I be able to add some logic also..
Please note time frame must be kept the same while analyzing this setup.
I have shared entry & stop-loss levels only. will share stop loss technique in another post
Thanks for reading!!
It's been a long that we haven't discussed anything here..
so our today's topic of discussion is how to trade/play with signs similar to Doji/ dragonfly/hanging-man etc
so we know the sign very well. we are referring here to the candlestick pattern, where there is some conflict between buyers & sellers & both keep trying to push/pull each other resulting in forming a candle where we usually see a small body candle having wicks on both sides.
so our next question is how to trade them..
1. Trend: before trading such patterns the trend should be known very well.
2. Once we have got the trend then wait for the small body candle.
3. Once we have got the candle, mark the high/low of the prior candle of the doji candle.
4. Wait for the next candle to form after the formation of doji candle.
5. once, the marked candle high/ low is breached on a closing basis you are all set to go!
examples shared
Example -1
Example-2
Example-3
Example-4
Example-5
Example-6
Example-7
Example-8
Example-9
I have shared multiple examples regarding the same & hope I be able to add some logic also..
Please note time frame must be kept the same while analyzing this setup.
I have shared entry & stop-loss levels only. will share stop loss technique in another post
Thanks for reading!!