Hello, dear visitors tradelikeapro.ru!Today we will talk about a very simple but effective trading system.It's called "Three Candles" and it is based on the eponymous pattern (you may know it under a different name).We supplement this setup is only one indicator and see how to apply the strategy in practice.
Characteristics strategy "Three candles»
Platform: the Metatrader 4
Currency Pairs: Any trend
Trade time: European and American trading sessions (for intraday trading)
Recommended DC: Alpari, RoboForex
pattern '3rd candle »
strategies Heart - pattern" third candle. "It is also sometimes called the reversal bar may have other names.It is not the title, but in the figure.
first candle, we will be the candle or Low High Point which is the highest or the lowest when compared with others of its candles.Right from the first bar the candles, we will be the second candle.She is supporting and how she had just closed, we can say that the pattern is formed.Well, the third cand
logical basis setup is a short-term change in sentiment in the market, which gives us the opportunity to enter in the direction of the momentum and take a small profit.
- enter the market at the beginning of the third candle, after the close of the second.
- If the direction of the stochastic lines (5,3,3) is contrary to the transaction - skip signal.
- If the candle 1 and 2 visually small - do not enter.
- If the second candle very large (highlighted on the chart) skip signal.
Stop-Loss and Take-Profit
- Stop-loss is set above / below the high / low of the first candle.
- fixed take profit (depending on the time frame and pairs) on the trader's discretion.Either leave after the first profitable candles.
- If within 5 candles after the entry price almost does not move - get out of position.
- not sell for 30 minutes before and after a major news release (when trading intraday).How and where to watch the news release time to read this article.
is not advisable to venture into one transaction by more than 2-3% of the deposit.Expect lot comfortable with a special indicator.
As ruler of a trading system, "Three Candles" strategy is a simplified kind of Price Action on Trade.However, I would still advise you to download our free video course on PA and learn at least setups.It does not take much time and greatly improve the results of trading your like this strategy, and as a whole.
Download a template strategy "Three Candles»