Discover and read the best of Twitter Threads about #Bullishengulfing
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It's weekend time ...let's catch up on highly successfull bullish candle stick patterns ...hold your patience as we roll into spotting these to make good gains in swing & momentum trades ...🧵🧵🧵
Don't forget to RT as we learn together ♻️♻️♻️
Don't forget to RT as we learn together ♻️♻️♻️
#bullishengulfing
- two candle setup
- effective to spot a reversal in downtrend
- first -tive candle followed by a +tive candle
- Second day candle price opens lower than First day low & closes higher than the first day high
- Enter when high of second day is xossed up
- two candle setup
- effective to spot a reversal in downtrend
- first -tive candle followed by a +tive candle
- Second day candle price opens lower than First day low & closes higher than the first day high
- Enter when high of second day is xossed up
#Morningstar
- three candle setup
- used to spot downtrend reversal
- one thin body candle between first long black candle and third long white one.
- Bodies of second and first candle should not overlap
- Gapup on third candle
- Entry at xossing up from third day candle
- three candle setup
- used to spot downtrend reversal
- one thin body candle between first long black candle and third long white one.
- Bodies of second and first candle should not overlap
- Gapup on third candle
- Entry at xossing up from third day candle
#Priceaction
IF trader, then study "Hour chart" of at least 30 trading days
Watch how #prices are #Trending & you take a position when trend changes, say, from making "LH & LL" to "HL & HH" & Vice Versa
This is the 1st & foremost step & absolutely noiseless
#Retracement helps🙏
IF trader, then study "Hour chart" of at least 30 trading days
Watch how #prices are #Trending & you take a position when trend changes, say, from making "LH & LL" to "HL & HH" & Vice Versa
This is the 1st & foremost step & absolutely noiseless
#Retracement helps🙏
#Priceaction Step:2
All traders know Demand & Supply to exploit the difference - a basic trait of any trader/ businessman.
What captures this absolutely is #Trendline & #Channel
For Eg: When prices break out of a falling T.Line/ Channel, it means demand has overpowered supply
All traders know Demand & Supply to exploit the difference - a basic trait of any trader/ businessman.
What captures this absolutely is #Trendline & #Channel
For Eg: When prices break out of a falling T.Line/ Channel, it means demand has overpowered supply
That's first clue-buyers are asserting. LH & LL would soon change.
Next step is to look for a Fibonacci #retracement to hold @ 38% or 50% or 61.8% (to make HL) with a bullish candle like #Bullishengulfing or #Bullishpinbar @ a % of previous rise which is your perfect LRHR entry
Next step is to look for a Fibonacci #retracement to hold @ 38% or 50% or 61.8% (to make HL) with a bullish candle like #Bullishengulfing or #Bullishpinbar @ a % of previous rise which is your perfect LRHR entry
