THAT BULL CANDLE SIGNAL YOU ARE ABOUT TO TRADE COULD BE A DANGEROUS MARKET TRAP!
As strong as some Bullish or Bearish Candlestick Signals may be, they can easily lead to unexpected losses and stressful situations for traders if they are traded in the wrong scenario...
THE RIGHT VERSUS WRONG TRADE SCENARIOS
When it comes to trading within Consolidations, making this distinction is a very common challenge.
While Consolidations are being formed, we can trade the Bullish and Bearish Waves that the market provides during this process. However, we have to know the Appropriate Signals that can be traded for the TYPE and SIZE of the Consolidation being formed. Otherwise a signal that worked for you in a previous situation may lead to losses the next time you trade it.
DOUBLE BOTTOMS & ABC SIGNALS
An example of this is the case of the Double Bottoms and ABC Signal that are now seen on the 4H Chart on the EURO NZD. In the video below, I explain why these signals may not lead to a Bullish Movement that can be traded. Even if it does, it can be a volatile movement that is difficult to trade.
Ever faced this scenario where a Signal you traded successfully one day suddenly leads to losses next time you traded it?
Learn to spot and avoid these common market traps today!
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(M.Sc. Economics, B.Sc. Management and Economics)