False Candlestick Signal bars lead to losses
Posted on February 28, 2017 12:59 pm
Lot of traders are using signal bars to Place a trade. The popular being Pin bars, inside bar, Bullish Engulfing, Bearish Engulfing etc; One should understand that those are mere candle stick pattern and doesnt reveal the true nature of the market. Market is all about Context. The effectiveness of a trade setup is not just on the individual Candlestick, but more on the context in which it appears.
The Below example has a Prior resistance area in which the pin bar appeared and it failed. It is not the setup or a Pattern which works its the Relevancy in which it appears works.
If you can find the Answer why it failed then you are thru with the understanding of price Action. Else if you want to take the Advanced price action course do call/watsapp at 7373339777 to discuss.
for any doubts or feedbacks please use the comment section below.
Happy Learning and Trading !!!
Cheers...
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vivekMay 20, 2017 at 05:39 PM
it was consolidating near that resistance zone,not a mere spik ..so bulls were tougher there and broke through... more like a flag brkout..
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