🔥Before diving into trading, it's essential to learn the fundamentals.🔥
Doing this will not only help you avoid common pitfalls but also increase your chances of success. Let’s break down some key insights that can truly boost your trading skills.
One of the best approaches to mastering candlestick patterns is by practicing. Enter trades based on the signals they offer and exit when necessary. Repeating this process not only sharpens your understanding but also builds your confidence. I’ve experimented with various patterns over time and discovered six reliable ones that consistently deliver results. And yes, all these patterns are best used on the daily chart.
Let’s start with two of the most impactful patterns:
1. Hammer: This candlestick shows up at the end of a downtrend, signaling a possible reversal. The pattern features a small body and a long lower shadow, indicating strong buying pressure that counters previous selling activity. When you notice longer wicks at the bottom, it's a sign that selling pressure is fading, and buyers (Bulls) are starting to take control. Expect a potential price surge after this.
2. Three Green Soldiers: This powerful bullish signal forms when three consecutive long green candles appear, each closing higher than the one before. Minimal shadows or wicks are present, emphasizing a steady rise in buying momentum after a downturn.
If you’re keen to explore more, stay tuned, and feel free to drop your questions below!
