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once they see that the double pattern has formed. But theres something else about priceit has a time component. The shooting star is single candlestick pattern and when it forms in an uptrend or in a resistance level, then it is considered as a bearish reversal pattern and so you should be looking to sell. There are 2 main reasons why I use multi-timeframe trading: For getting better trade entries For reducing stop loss distance so I have better risk:reward ratio which means I can also increase the amount of contracts I trade without risking more of my trading accountso. However, you can also use the distance in pips between the neckline and the head as your take profit target level. But on the other side of the coin is that trader that have bought at a low price and now that the price is heading up to the resistance level, thats where most of their take profit levels are. Often I want to make sure that the 1hr candlestick closes outside of the triangle before I enter a pending buy stop or sell stop order to capture the move that happens to avoid false breakouts while the candlestick has not closed yet. Answer: You need price charts: price bars, candlestick and line charts. Price goes up, hits a price level or zone where it cannot continue upward any further and then reverses, thats a resistance level. When the market is heading down, it forms down swings and up swings as it continually moves lower. Price action helps to reduce these kinds of false signals. Sellers come in at the highs (left shoulder) and the downside is probed (beginning neckline.) Buyers soon return to the market and ultimately push through to new highs (head.) However, the new highs are quickly turned back and the downside is tested again (continuing neckline.) Tentative.

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See the two blue vertical lines in the chart above. When you see this pattern form in a resistance level or in an uptrend, this is a bearish reversal signal and may indicate that the uptrend is ending and you should go short (sell). A line chart is simply drawn by connecting either the closing, high or low price and thats how you get the line on a chart. Horizontal Support and Resistance Levels These are fairly easy to spot on your charts. . So in an uptrend, you should be looking to buy on the downswing. That was my clue to execute a short trade right there. The high is the highest price that was reached during that time period. This is especially true if your style of trading is trend trading or swing trading. If you are new to trading, and you have yet to find your style of trading you should start with currency pairs that you are comfortable trading and a demo account. So when that ends and price resumes in the original uptrend direction then that is called a continuation. The question needs to be asked: does my price action trading course cover everything that you need to know about the price action trading?