Advanced Candlestick Analysis – The BEST “SCALPING and SWING Trading Strategy” For Beginners That No-one Ever Told You. This tutorial provides a clear, winning, step-by-step guide to, “How to successfully trade in the Forex, Stocks, or any financial markets, and generate consistent profits”.
So, by the time you finish this video, you’ll know exactly when to enter high probability trade using Candlestick Analysis.
There are two lines you should be aware of in the Stochastic tool. The K-Line (blue) represents the closing price while the D-Line (orange) is the moving average of the K-Line.
The stochastic should be your main entry signal. The ranges the lines are bound in are important metrics to see if the asset is oversold or overbought.
When the K-Line (blue) drops below 20, labelled in yellow above, it indicates a buying or long signal as the asset is oversold.
Similarly, the zone in red, which is above 80, is an indicator to sell or short the asset as it is overbought.
Better if multiple candlesticks are rejecting an area as this shows that price tried over and over but failed. When multiple candles refuse to go UP, or rejection from resistance, they ultimately go down. Here are some examples of multiple rejection candles from an area.
- Download “TraderVersity.Com-EMASTOCH” (Zip/RAR File).
- Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators/
- Copy the “TraderVersity.Com-EMASTOCH.tpl” file (template) to your Metatrader Directory …/templates /
- Start or restart your Metatrader Client.
- Select Chart and Timeframe where you want to test your forex system.
- Right-click on your trading chart and hover on “Template”.
- Move right to select “TraderVersity.Com-EMASTOCH” trading system and strategy.
- You will see the “TraderVersity.Com-EMASTOCH” is available on your Chart.
- 1st. the 50-period EMA above the 70-period EMA. Both EMA is support area, or rejection level.
- 2nd. price action validates the rejection level, or support area.
- 3rd. Stochastic crosses upward the 20 level.
- 4th. Place a buy order at opening of the next candle.
- 5th. Initial stop loss at the privious swing low.
- 1st. the 50-period EMA below the 70-period EMA. Both EMA is resistance area, or rejection level.
- 2nd. price action validates the rejection level, or resistance area.
- 3rd. Stochastic crosses downward the 80 level.
- 4th. Place a sell order at opening of the next candle.
- 5th. initial stop loss at the privious swing high.
In this “Advanced Candlestick Analysis”, MULTIPLE CANDLE REJECTION is the key. Better if multiple candlesticks are rejecting an area as this shows that price tried over and over but failed.
When multiple candles refuse to go UP, or rejection from resistance area, they ultimately go DOWN. On the other hand, When multiple candles refuse to go DOWN, or rejection from support area, they ultimately go UP.