Trading Target Candles, page-2

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    The Setup:

    1. We identified the trend – Its Bearish.
    2. We marked out Target areas – here it’s a Trendline.
    3. We see a strong candle has reached out to touch the trendline and ends as an Engulfing candle. This is a Target Candle.
    4. We now see a Two Candle setup where the first candle is Bullish, the second Bearish Target candle has a Higher High and ends with strength.
    5. We measure the PIP length of the setup barfrom its low to high. In this case we calculated 24 PIPS, this then becomes ourTake Profit.
    1. We enter manually at the close of the setup bar/open of the next candle.
    2. Enter our TP Level
    3. SL can be here 24 pips or use the next previous low at about 35 pips.
 
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