To know the Directions I have discuss the Structures and its relation ship between time Frame, you can refer to this video to understand it. (how to trade Forex). It is also a must You understand Time frame
Time Frame
1 Day Candle stick = 24 candle stick having a time frame of 1 hour
1 Day Candle stick = 6 candle stick having a time frame of 4 hours
1 Candle stick in 4hrs time frame = 4 candles sticks in 1 hr time frame
1 Candle stick in 1hr time frame = 12 candles sticks in 5 min time frame
(Explanation video will be created soon about Time Frame)
(Explanation video will be created soon about Time Frame)
If you have understand time frame you can explain a pin bar or hammer Candles stick. Example in four hours time frame the reason for the formation of very long wick or tail, probable cause
Bullish long tail or wick = 1 candle stick (1hr time frame) bearish and 3 candle stick (1hr time frame) bullish. The bullish candle height is longer than the bearish candles stick. It may show Long bearish candle in the first hour of the 4hrs time frame but the 2nd 3rd and 4rth candle (1hr) out stand the height of the 1st hour candle stick leaving a long tail or wick.
It may sound confusing but as soon i can create visual video on this this will make sense. Expert in candle sticks and its relationship with time frame will make you great naked trader. as for me I need further indicators to serve as a confirmation on what i am going to respond to the market.
Now lets take a look on this 1st PIC
Posted this Pic last August 4 this year during the non Farm Payrol week (refer to this link) I have specifically explained on that post that if the Strong resistance is broken then higher possibility of down trend is coming, in which Swing traders love this clues. as for me to take trade again i specifically draw a head and shoulders pattern which we all know if market price form a head and shoulders possibility of reverse is high. for this case a down trend is coming.
Take a look on 2nd pic which is the current August 16, 2017 shows the accuracy that i have foretold regarding direction. and if Market allow to happen forming a right shoulder then its time for me to trade.
Bullish long tail or wick = 1 candle stick (1hr time frame) bearish and 3 candle stick (1hr time frame) bullish. The bullish candle height is longer than the bearish candles stick. It may show Long bearish candle in the first hour of the 4hrs time frame but the 2nd 3rd and 4rth candle (1hr) out stand the height of the 1st hour candle stick leaving a long tail or wick.
It may sound confusing but as soon i can create visual video on this this will make sense. Expert in candle sticks and its relationship with time frame will make you great naked trader. as for me I need further indicators to serve as a confirmation on what i am going to respond to the market.
Now lets take a look on this 1st PIC
Posted this Pic last August 4 this year during the non Farm Payrol week (refer to this link) I have specifically explained on that post that if the Strong resistance is broken then higher possibility of down trend is coming, in which Swing traders love this clues. as for me to take trade again i specifically draw a head and shoulders pattern which we all know if market price form a head and shoulders possibility of reverse is high. for this case a down trend is coming.Take a look on 2nd pic which is the current August 16, 2017 shows the accuracy that i have foretold regarding direction. and if Market allow to happen forming a right shoulder then its time for me to trade.
IMPORTANT
Direction of the market can only be measured with in Structure. again watch this to understand structure (how to trade forex). Meaning the accuracy and to what will happen next will depend the structure level if the market have broke or reject previous structures. That is why it need skills to identify this. so that you can still earn without know the exact point when will the market break or bounce.
Example my analysis on EurUsd last Sunday (refer to this link)
Example my analysis on EurUsd last Sunday (refer to this link)
I state it clearly that it will bounce on the Roof or Resistance making an advance trade. However what the market does it did not, but instead he check the previous structure low. in which my trade plan is still intact since i could see pattern forming
Even it did not hit my desired point of entry which i already took and advance trade waiting for market to hit it and it will start the trade. I was still able to profit and created a new trade with minimal 1:1 Ratio risk factor. Reason behind it was the experiences I had and back up with few indicators. Again the structure help me decide to create a new entry. (watch to understand)
Even it did not hit my desired point of entry which i already took and advance trade waiting for market to hit it and it will start the trade. I was still able to profit and created a new trade with minimal 1:1 Ratio risk factor. Reason behind it was the experiences I had and back up with few indicators. Again the structure help me decide to create a new entry. (watch to understand)
Refer to the pic below
