KEY price action candlestick THAT ACTUALLY WORKS!
Some key price action candlesticks we look for when entering a trade.
Pinbars: Sign for weakness/rejection, in the correct context, it can be a powerful trend reversal candle
Inside Bar: Short retracements / losing momentum, in the correct context, it can show whether a trend is continuing
Engulf Candle: opposite from the inside bar, this usually shows strength in either the bears/bulls. With the correct context, it can show signs of reversal too
Marubozu: 'Power' Candle, can be shown with or without a wick, Normally found in trend continuation, a big spike with a bias towards one side of the market. With proper and valid entry timing, it can be a good signal to ride the trend.
Doji: Exhaustion candle, bulls & bears fought for position, can be found in high volatility market, when a doji is formed, it is not recommended to enter a trade..
Pinbars: Sign for weakness/rejection, in the correct context, it can be a powerful trend reversal candle
Inside Bar: Short retracements / losing momentum, in the correct context, it can show whether a trend is continuing
Engulf Candle: opposite from the inside bar, this usually shows strength in either the bears/bulls. With the correct context, it can show signs of reversal too
Marubozu: 'Power' Candle, can be shown with or without a wick, Normally found in trend continuation, a big spike with a bias towards one side of the market. With proper and valid entry timing, it can be a good signal to ride the trend.
Doji: Exhaustion candle, bulls & bears fought for position, can be found in high volatility market, when a doji is formed, it is not recommended to enter a trade..