o learn about the market movement conveniently candlestick play vital role. IT helps to know the open, close, high, low of the price at any given time. Therefore, every trader who trade should look in to the candle stick pattern. Volume is one of the most reliable metrics in trading. If more the volume, less is the chance for manipulation. For long term to short term the Daily candle for at least two years is advisable.
For intraday 5 min candle or 15 min candle is advisable.

1 Comment
  1. Naresh 3 years ago

    Hi,
    This is an appropriate trade plan for the bullish engulfing pattern

    Your Entry should be above the high of the Engulfing Pattern.
    Your Stop Loss should be placed slightly below the most recent low( lower tail of the pattern)
    Stay in the trade for a minimum price move equal to the size of the Engulfing pattern.

    Trade plan for the bearish piercing pattern:-

    After the formation of the bearish piercing pattern, the last close is defined as the confirmation level so, on the next day, the prices need to cross this level for the entry signal.
    Put stop loss above the high of the bearish candle.
    Target is based on the size of the pattern.

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