hi
Following is simple pattern called "HIKKAKE PATTERN"
this is working in high time frame/s like 1 hour and 4 hour and daily and weekly
What Is The Hikkake Pattern
The Hikkake is a failed inside-bar pattern. The inside bar is a candlestick formation that occurs when a certain candle closes inside the range of its predecessor. A breakout of the range is confirming the Inside Bar trade.
The Hikkake trades on a failure of the Inside Bar, entering trade when the range is broken again, to the opposite side.
View attachment 19342
View attachment 19343
Psychology Behind The Hikkake
The failure of the Inside Bar triggers stop losses of traders which attempted to trade the Inside Bar, thus adding strength of the movement. The failure itself shows reflectance of traders to continue in the direction of the original breakout, so the Hikkake direction is favored.
How to Trade The Hikkake
1. Spot an Inside Bar candlestick formation - Look for big candles followed by smaller ones that are inside their range.
2. Wait for a breakout of the range.
3. Set Trading Orders - Set orders to join the trade at the breakout of the range to the opposite direction.
4. Stop Loss - Place stop loss above the highest high of last 3 candles (for short), or below the lowest low of last 3 candles (for long). This ensures that stop loss is in a logical place, near Support or Resistance
DETAILS OF THIS ONE GO THROUGH FOLLOWING LINKS
http://shookrun.com/documents/hikkake.pdf
http://www.chartsecret.com/content/trading-hikkake-candlestick-pattern
Following is simple pattern called "HIKKAKE PATTERN"
this is working in high time frame/s like 1 hour and 4 hour and daily and weekly
What Is The Hikkake Pattern
The Hikkake is a failed inside-bar pattern. The inside bar is a candlestick formation that occurs when a certain candle closes inside the range of its predecessor. A breakout of the range is confirming the Inside Bar trade.
The Hikkake trades on a failure of the Inside Bar, entering trade when the range is broken again, to the opposite side.
View attachment 19342
View attachment 19343
Psychology Behind The Hikkake
The failure of the Inside Bar triggers stop losses of traders which attempted to trade the Inside Bar, thus adding strength of the movement. The failure itself shows reflectance of traders to continue in the direction of the original breakout, so the Hikkake direction is favored.
How to Trade The Hikkake
1. Spot an Inside Bar candlestick formation - Look for big candles followed by smaller ones that are inside their range.
2. Wait for a breakout of the range.
3. Set Trading Orders - Set orders to join the trade at the breakout of the range to the opposite direction.
4. Stop Loss - Place stop loss above the highest high of last 3 candles (for short), or below the lowest low of last 3 candles (for long). This ensures that stop loss is in a logical place, near Support or Resistance
DETAILS OF THIS ONE GO THROUGH FOLLOWING LINKS
http://shookrun.com/documents/hikkake.pdf
http://www.chartsecret.com/content/trading-hikkake-candlestick-pattern
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