Re: False Break0uts ...
FYI:
I saw a similr strategy on internet.. their name was master candle. The candle that engulfs more than 4 candles (minimum) on the right hand side.
The more it engulfs the more stroger would be the break-out to either side.
But minimum 4 candles has to be engulfed to call that as a master candle.
I have never tested or traded this strategy.. but I just thought I will throw it out here.
According to the master candle strategy, they generally play it on 4 hr candles.
Good observation Raghav. Got your point.
Absolutely, WAITING is the actual secret in trading business. Whereas majority people think they need a high accuracy trading system to profit which is NOT true.
Here, the information about Pinocchio Bar (Pin Bars) and observation about the breakout bar helps a lot.
Absolutely, WAITING is the actual secret in trading business. Whereas majority people think they need a high accuracy trading system to profit which is NOT true.
Here, the information about Pinocchio Bar (Pin Bars) and observation about the breakout bar helps a lot.
I saw a similr strategy on internet.. their name was master candle. The candle that engulfs more than 4 candles (minimum) on the right hand side.
The more it engulfs the more stroger would be the break-out to either side.
But minimum 4 candles has to be engulfed to call that as a master candle.
I have never tested or traded this strategy.. but I just thought I will throw it out here.
According to the master candle strategy, they generally play it on 4 hr candles.