Price action and trend change (Price action and trend change) - MT4/MT5 resources
price action. Compression span and 1-2-3
Hello everyone. My purpose in writing this article is to remember again that there is no more accurate indicator than identical price action.
There are candlestick patterns such as double tops, triple tops, shoulders, etc. that help identify the exhaustion of the current trend and the beginning of a new trend.
Obviously, to find a trend change, the current price chart must be trending, otherwise a trend change will occur.
For this type of analysis we will only use support, resistance and trend lines.
Working Hours: All deadlines. In particular, I have a long (day) work schedule in Colombia.
Bullish Trend: It is understood that when the forming high is higher than the previous high, the price is in an uptrend just like the new low is higher than the previous low.
Sales business:
1. Bullish wave exhaustion appears; this is shown when the price pulls back and attempts to continue rising, but the price does not exceed the last highest candle and a double cap pattern may form.
2. Breakthrough of the last support level: It is manifested by the price recovering and breaking through the last support level without breaking through the last resistance level, thus forming a sign of trend change.
3. Breaking through the trend line: When the price executes step 2, it usually breaks through the trend line upward and is expected to change the trend.
4. Aggressive Entry: This occurs when the price breaks through the last support and trend lines, expecting to close the candle and start a selling operation at the beginning of the next candle.
5. Moderate entry: When the price breaks the last support level and the bullish trend line, expect to move towards the resistance zone before the support zone, and enter a sell operation as soon as the price shows the first bear candle.
Buying operation: Opposite of selling operation.
I would like people who are in this industry to increase their profit percentage by contributing their knowledge, as we all know that good analysis is needed before entering the market.
Please forgive my poor English as it is not my native language. Since a picture says more than a thousand words, I've included one of the latest sales transactions of the day.
Hello everyone. My purpose in writing this article is to remember again that there is no more accurate indicator than identical price action.
There are candlestick patterns such as double tops, triple tops, shoulders, etc. that help identify the exhaustion of the current trend and the beginning of a new trend.
Obviously, to find a trend change, the current price chart must be trending, otherwise a trend change will occur.
For this type of analysis we will only use support, resistance and trend lines.
Working Hours: All deadlines. In particular, I have a long (day) work schedule in Colombia.
Bullish Trend: It is understood that when the forming high is higher than the previous high, the price is in an uptrend just like the new low is higher than the previous low.
Sales business:
1. Bullish wave exhaustion appears; this is shown when the price pulls back and attempts to continue rising, but the price does not exceed the last highest candle and a double cap pattern may form.
2. Breakthrough of the last support level: It is manifested by the price recovering and breaking through the last support level without breaking through the last resistance level, thus forming a sign of trend change.
3. Breaking through the trend line: When the price executes step 2, it usually breaks through the trend line upward and is expected to change the trend.
4. Aggressive Entry: This occurs when the price breaks through the last support and trend lines, expecting to close the candle and start a selling operation at the beginning of the next candle.
5. Moderate entry: When the price breaks the last support level and the bullish trend line, expect to move towards the resistance zone before the support zone, and enter a sell operation as soon as the price shows the first bear candle.
Buying operation: Opposite of selling operation.
I would like people who are in this industry to increase their profit percentage by contributing their knowledge, as we all know that good analysis is needed before entering the market.
Please forgive my poor English as it is not my native language. Since a picture says more than a thousand words, I've included one of the latest sales transactions of the day.
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