PATTERNS and CANDLESTICK conformation DONT WORK
Now if you are a trader who uses these methods then yes you might win a few trades but the likely story is that you loose more than you win, this is because banks run the markets and they dont use patterns and candlesticks to trade with, you really think they sit there all day waiting for a FORWARD FLIP FLOP with a BACKWARDS TRAMPOLINE to form before taking a trade? NOPE! They just trade of key levels and trend lines... this is why 95% of retail traders fail because they are taught they MUST trade using these bullshT methods... and who do you think creates these methods.... yes the big banks so they can take even more of your money.
Now i have finished ranting lets take a look at the trade, we can see that price currently had a break on the 4th touch of our ascending trend line before coming back to retest it before bears took back over again, now where can see price making a run down to our support where we might see some bullish moves upto our zone (yellow box) this zone is placed at the 3rd touch of our descending trend line, this is where we will be looking at taking short trades.
Remember trading is a game of patience and thinking outside the box.. if you havent got these 2 qualities then you may as well stop trading because you are only wasting your own time and hard earned money.
Hope this rant has helped you, you can always come and have a chat with me if you want to change the way you think in the markets.
Now i have finished ranting lets take a look at the trade, we can see that price currently had a break on the 4th touch of our ascending trend line before coming back to retest it before bears took back over again, now where can see price making a run down to our support where we might see some bullish moves upto our zone (yellow box) this zone is placed at the 3rd touch of our descending trend line, this is where we will be looking at taking short trades.
Remember trading is a game of patience and thinking outside the box.. if you havent got these 2 qualities then you may as well stop trading because you are only wasting your own time and hard earned money.
Hope this rant has helped you, you can always come and have a chat with me if you want to change the way you think in the markets.
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