The BPC Strategy is used for entering trades when there's been a breakout of a level or zone (horizontal or trend 📉 📈 line(s) which represent support or resistance).
If the breakout is sufficient and clear enough without any disputes and there's a clear enough pullback followed by a sign of continuation, a trade can be entered.
So BPC can then be interpreted as Breakout, Pullback and Continuation.
For a breakout of a level or zone of support, at the end of the pullback, there should be a candlestick 🕯️ pattern that indicates a continuation of the downward 👇⬇️ trend 📉.
For a breakout of a level or zone of resistance, at the end of the pullback, there should be a candlestick 🕯️ pattern that indicates a continuation of the upward 👆 ⬆️ trend 📈; in the chart shown for GBPUSD, the candlestick 🕯️ pattern is a bullish harami candlestick 🕯️ pattern which indicates a likelihood of upward momentum.
There are three major reliable candlestick 🕯️ patterns for trade entry when using the BPC Strategy. They are:
1. Harami candlestick 🕯️ pattern (bullish/bearish).
2. Engulfing candlestick 🕯️ pattern (bullish/bearish).
3. Hammer 🔨/pin bar (bullish) or inverted hammer/inverted pin bar (bearish) candlestick 🕯️ pattern.
If the breakout is sufficient and clear enough without any disputes and there's a clear enough pullback followed by a sign of continuation, a trade can be entered.
So BPC can then be interpreted as Breakout, Pullback and Continuation.
For a breakout of a level or zone of support, at the end of the pullback, there should be a candlestick 🕯️ pattern that indicates a continuation of the downward 👇⬇️ trend 📉.
For a breakout of a level or zone of resistance, at the end of the pullback, there should be a candlestick 🕯️ pattern that indicates a continuation of the upward 👆 ⬆️ trend 📈; in the chart shown for GBPUSD, the candlestick 🕯️ pattern is a bullish harami candlestick 🕯️ pattern which indicates a likelihood of upward momentum.
There are three major reliable candlestick 🕯️ patterns for trade entry when using the BPC Strategy. They are:
1. Harami candlestick 🕯️ pattern (bullish/bearish).
2. Engulfing candlestick 🕯️ pattern (bullish/bearish).
3. Hammer 🔨/pin bar (bullish) or inverted hammer/inverted pin bar (bearish) candlestick 🕯️ pattern.