Just wanted to get back to some basic's that you should be aware of. The three best reversal chart patterns (on higher time frames- they are more reliable), but can be traded on lower time frames (< 1 hour> with good results too.
They are as follows (can be bearish or bullish)
1) Engulfing (two candlestick patterns)
2) Harami ( two candlestick patterns) or
3) Pinbar (three candlestick pattern)
* Always when trading: Trade Quality trading setups, not trade quantity trading without any reasons for new trades.
*Look on chart for an example of each in orange oval areas. *Note: If you do not know much about these candlestick patterns, then PLEASE read about them. You will see them fairly frequently & are very reliable. Not all of these on a chart should be traded, some are not on Trend areas, Support & Resistance areas or Round psychological numbers.
They are as follows (can be bearish or bullish)
1) Engulfing (two candlestick patterns)
2) Harami ( two candlestick patterns) or
3) Pinbar (three candlestick pattern)
* Always when trading: Trade Quality trading setups, not trade quantity trading without any reasons for new trades.
*Look on chart for an example of each in orange oval areas. *Note: If you do not know much about these candlestick patterns, then PLEASE read about them. You will see them fairly frequently & are very reliable. Not all of these on a chart should be traded, some are not on Trend areas, Support & Resistance areas or Round psychological numbers.