Trading Target Candles

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    TRADING TARGET CANDLES

    Advance Price Action Strategy using Naked candles

    Hi Traders –

    I would just like tointroduce a live trading thread to the Forex Section.

    I recommend we trade a TwoCandle Pattern Strategy that trades Target Candles. Target Candles are candles which ideally have a decent size wick that have touched a Trendline or Supply & Demand zone and then moved strongly in the other direction.

    We will see Pin Bars andEngulfing candles on many occasions. The ideal is these candles should havetaken out stops or made a fake move before reversing.

    Candles that have Run Stops or made Fake Moves

    This is the big players TARGETING previous priceaction highs and lows.

    The following is the systemdetails but please trade this strategy on Demo charts tell you get a better understanding.
    https://hotcopper.com.au/data/attachments/1478/1478941-3dd4f7247967de5d7f8af0ca2575b43d.jpg https://hotcopper.com.au/data/attachments/1478/1478946-d6a9065c039b02c2d186378ae3ba8e7d.jpg


    https://hotcopper.com.au/data/attachments/1478/1478948-2d27c148c322207d97bb5c5315f90964.jpg

    Buy Setups:


    1.. Price needs to be in a upwards trend.
    2.. Price needs to have visited a Trendline or a Supply / Demand zone.
    3.. The setup is formed by two candles

    A.. First candle needs to be a Bear candle.
    B.. Second candle needs to be a Bull candle, its wick needs to reach lower than the Bear candle.

    4.. Both Candles body size ideally should be of good size.
    5.. The Bull candles wick needs to have hit the Trendline or Supply / Demand zone at the start of the move.
    6.. Trade is opened at the start of the next candle.
    7.. Set the Take Profit to Pip amount of the range of setup candle or at the next previous high or low.
    8.. Set Stop Loss 1:1 Take Profit or under a previous low.


    Sell Setups:


    1.. Price needs to be in a Downwards trend.
    2.. Price needs to have visited a Trendline or a Supply / Demand zone.
    3.. The setup is formed by two candles

    A.. First candle needs to be a Bull candle.
    B.. Second candle needs to be a Bear candle, its wick needs to reach Higher than the Bull candle.

    4.. Both candles body size ideally should be of good body size.
    5.. The Bear candles wick needs to have hit the Trendline or Supply / Demand zone at the start of the move.
    6.. Trade is opened at the start of the next candle.
    7.. Set the Take Profit to Pip amount of the range of setup candle or at the next previous high or low.
    8.. Set Stop Loss 1:1 Take Profit or under a previous high.

 
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