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Pola Candle Reversal Paling Akurat dan Sering Muncul II Most Accurate and Frequent Reversal Candle - YouTube
Channel: Wijaya Trading
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Meet again with Wijaya Trading here
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On this evening's occasion
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Wijaya Trading will give tips and techniques...
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...that you can try to apply in MetaTrader
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Surely, you must test it in demo account to prove...
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...that technique we said is accurate
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The material is about very accurate reversal candle patterns...
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...and often appear in the market
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These are reversal signals where these appear,
there's a chance and potential of reversal
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from the first trend, say, up, become down and vice versa
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Even though it's not long like the previous trend
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at least you can order on the existing chance to get profit
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What are the very accurate candle patterns?
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We'll discuss one by one and practice it in MetaTrader
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First is doji...
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...and double doji
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Doji, the open and close spots are the same or almost the same
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then, if the tail is below, the body is the same or almost
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Or, it could be like this
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This is doji. The most accurate doji is...
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... double like this
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This is doji, then there's another doji
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So, double doji is a reversal signal that's pretty accurate and often...
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... happens in the market everyday
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If this is happens, the next candle potential is going reversal
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If the tail is below, the potential is going up
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If the tail is above, the potential is going down
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It means, from trend up to trend down. This, trend down to trend up
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Surely this can't stand by itself. So it's not always a reversal
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I'll practice it later. Doji can't stand by itself
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What will strengthen the doji to go reversal?
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It must be at a support or resistance area
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At least, when this chance appears, we can order there
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Technical analysis we do is not for corporation interests, or others
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but it's for our interests and when we order, we can get profit
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I after the reversal, then it goes back again, it's the market affairs
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What matters is we order, then profit, done
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That's the analysis, or market reading purpose
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Then, second reversal signal...
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...is bullish engulfing
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Bullish or bearish engulfing
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Engulfing means closing
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It means closing the previous candle
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For example, this is red
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After the red, there's a thick green candle
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So, this closes the previous candle
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This is called bullish engulfing. Since the last is green, it's bullish
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Then, if the last is red. For example, it's green first
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First is green, then a red appears
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This is called bearish engulfing
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So, this green, the chance is continue to go up
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This one has the chance to continue to go down
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Or reversal, from trend down to up, and otherwise
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Two candlestick patterns that..
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...very accurate, you can try and prove it
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both in upcoming market and the previous one
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The same as doji
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Engulfing position must be at support or resistance area
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When it's at resistance, it's called bearish engulfing
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When it's at support, it's called bullish engulfing
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From these 2, we'll try to practice it
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We'll see it in the market
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or those two signals appear
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First is doji. This is a doji, here
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This doji is at a support
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After doji, another doji appears, which means double doji
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Double doji means there's big chances of reversal
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When we should order there? If double doji
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actually we can order directly there
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but, to ensure and for stronger confirmation
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we wait a green candle as confirmation
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If it appears, or made perfectly
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not running, but become a full candle and the candle changes
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Then, we can order in the next candle, here
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We order sell here
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Profit target, depends on your experience
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The standard you usually use, use it
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Maybe in Euro is 50-70 pips
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Use what you usually use
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so we're not in floating for too long. Or, we can see resistance area
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We can go near the resistance, then stop the profit
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The resistance is here
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or we can get out before the resistance
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Everything is alternative, depends on experience and skills to hold
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Then, we must consider the risk when we order
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There's a support spot, we can put the stop loss there
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We can put the stop loss here, or here
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What matters is it's at a strong support area. It'll be safer and...
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...can make us to go back up again
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Even in worst condition, we'll...
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...be protected. So, our maximum loss here is 500 pips
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Even if go down long, we can cut loss it earlier
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What matters is look at the progress of the next candle
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Watch the direction, which one is the stronger
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This is a candle pattern that's very accurate. Doji or double doji
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If the doji at a support area, the confirmation is green candle
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If the doji is at a resistance area, the confirmation is red candle
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It also works for hammer and shooting star
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But, the most accurate one is doji or double doji
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Next, after doji, it's engulfing
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I'll show it, the first is bearish engulfing
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It was going up
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Then, at the resistance area
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it got back, which means not a breakout
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Then, after the green, there's a pretty strong red candle
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even closing the previous candle. This is called...
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...bearish engulfing
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Then, can we order sell immediately?
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Yes, but for caution, we better wait a confirmation
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Since it's at resistance, the confirmation is red candle. If...
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...after the red is long green, we cancel the sell order
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because the confirmation is invalid
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It's valid if it's red, like this
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So, our order is not here, but after it's done, here
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"But, it's going up"
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Once again, we read chance for our own parameter
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where that parameter can be used to order and take profit there
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This is down around 300. If our standard take is 100 pips
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this is more than enough and we can exit with profit
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If it's going to turn again, it's the others affairs
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We can re-evaluate and re-analyze
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These 2 are very accurate example. I'll give an example of doji at...
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...resistance now. Before was doji at support, now resistance
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This is double doji, it's at...
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...resistance, there's big chance it'll go reversal
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Once again, to strengthen our analysis, wait for a confirmation...
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...of red candle, before was green, now is red, since it's at resistance
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So, we wait a red. When this candle is done, we can order here
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Order sell here
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Don't forget risk management, put it at the resistance or above it
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Then, for the take profit, you can put above the support
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or, if our target is 100-200 pips, we can exit earlier
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Why? Because if we get profit, make sure it's in our pocket
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Otherwise, if it's a profit, but we're not taking it yet, there's 2 chances
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We could get more, or it could turn and we get a loss
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Because in trading, no one knows how far the candle will move
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That's why, take the profit first. If we want to order, analyze again
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These 2 candlestick patterns we said here
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you may try in the upcoming market, or previous ones
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I'm sure, if you're sharp in seeing the chance
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certainly, you'll get profit consistently with only
these 2 reversal candlestick pattern
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Thank you for watching Wijaya Trading's video
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Hopefully you can add more knowledge
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Good evening. We'll see you next time
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