Membaca Candle Terakhir Untuk Entry || Reading Last Candle to Order
Breakout We can use candle pattern, 2 confirmations, or 2 long rejections correction, breakout, even changing color There's around 6 triggers that we can use If you find yourself, you can add it Let's start the steps of how to do it Let's start with yesterday since there's still domination today Let's start from yesterday The time doesn't matter for now If it's in the morning, then we see the previous one See the previous candles movement If it's in the afternoon, see the nearest candles Let's say we still see these 3 candles In the morning, around 8.00 a.m, we only can see 3 candles First, watch the candles structure The nearest to the running is seller The easiest is seeing the structure The structure is going down It means we focus on sell for now Now, let's see if there's support and resistance The nearest from the running now There's psychology level here The seller power must be tested here If it's breached, there's another psychology level here Body or tail? See an area with most rejections We use this because both are touched We can place it at the body too But, since there's lower level it means the price touched that area we use the area that touched the most It even nears this one Then, see the last formed candle. This one, for example Understand the character. In order to understand candle character the main basic is the candle's body The length of candle's body Second is the axis length Third is the ratio, comparison of body and tail Fourth is position, above or below If it's long like this The body is small and the tail is long. Tail above is seller rejection The pressure to go down is great. Tail below means buyer rejection
Although seller pressure is strong, it touched that area At first, buy pressure was strong, but rejected by seller Compare the body and tail The tail is longer and above. It means there's chance to go down Or seller pressure is strong It's for reading candle characteristics, at least to read information Watch this candle From the candle structure, reds Small red to thick, it means seller still has strong momentum Thick has no tail. So, it's full of seller power When the candle is formed, it goes down again because the previous one was powerful Then, rejected by buyer. Now, there's rejection below
This is volume. This is rejection, which is longer than the body It means there's buyer rejection Second, compare the volume to the previous one The previous one is bigger It means seller is reducing, buyer is starting to press Watch the next one We already said that seller is reducing. So, buyer is pressing So, we must be careful, especially it's at a nearest support If we sell, it's difficult. This condition is very dangerous It's near a psychology level Second, seller is getting weaker. So, wait for the next chance
Let's see. It goes down touches the psychology level, then rejected by buyer It even closed as thick volume So, this green strengthens the buyer previous pressure And the seller is getting weaker So, we must adjust ourselves Turns out the sell is reducing Buyer is pushing. It was trying to go down and buyer is dominating This is a confirmation, trigger. Not just this one We already read the previous ones The power is getting weaker. There's rejection that appears It's limited by the psychology level So, this is a confirmation We can order after that. Surely we better wait We can order directly When the candle changes, we can wait because it went down to here At least there's remaining sell power although it's rejected by buyer. We can use the first, order directly
Or we can wait for it to go down, then change to green, then we order buy in this running candle For the target, we already discussed in money management The main thing is secure it when we get profit because the profit becomes ours Different if we wait the profit to get bigger After we don't close it, the profit could be reduced even get a loss. Sometimes that happen We hope to get profit consistently Don't reject fortune. We don't know how far it'll go We only see the probability When we get profit, secure it If it's done, see if there's potential again There's psychology level here too If it breakouts, it'll continue There's psychology level above here If it breakouts again, it'll go up again Gold always has support and resistance It means gold is loyal to its support and resistance. If it breakouts, it'll continue If it can't breakout, it'll go sideways or consolidation Watch when it breakouts When this psychology is breached find the nearest formed one, here This is the highest psychology level for now See if the psychology level is breached If it breakouts, then there's chance to continue to go up Turns out there's correction here Seller rejected it. Below here, there's psychology level If it breakouts down this retracement at the half here, it'll continue If it's breached, there's chance that it'll continue to go down When it can't breakout this psychology level If it's rejected and breakout the psychology level above it'll continue to go up There's another one above It got breakout again, it'll continue to go up It breakouts and continue even though there's correction at first If the correction is still at the retracement, it doesn't mean anything If it goes up to this green edge Then, draw a line there. Click twice, so the correction is at the half So, if it goes down, it must be tested here first Turns out it couldn't breach, so it goes up again If it breakouts, it'll go up stronger and so on So, we must watch the trend and psychology level If it goes up, we focus on resistance We can find resistance from the left side See rejections at the left If it breakouts, find another one at the left Find rejections that are touched The highest one is this If it breakouts, it'll continue. If not, it'll go sideways
If it goes down, it must be tested at this half area The retracement area is at this half The first psychology level is here It'll be tested here. If it can't breakout surely it'll go sideways or starting to go up If it's starting to go up, see if it breakouts or not If it breakouts up, it'll continue to go up If it keeps going up, how do we know that it'll stop? At the left, there's another psychology level. But this is the nearest It's always gradual When it breaches, there's a higher one We also must watch the power Watch the power, the daily range Range is the moving power in a period of time Let's measure the yesterday's range Watch the lowest, either body or tail Yesterday was around 3000. That's the range Watch the previous one. Measure from top to bottom. Around 2000 Let's measure this. Maybe this doesn't reach 3000
It went up to here. 7000, way bigger So, if today is bigger than 3000 we use this 7000 as reference But, if it's only around 2000-3000, then reversal signs appear Reversal signs are the range is fulfilled, then the color changes there's rejection clue, and etc. These are the steps to read the movement First, always read the candle structure Let's review it First is candle structure Second is the last character Third is support and resistance. Fourth is retracement
Fifth is range. Last is trigger We already discussed these. Now, let's discuss about trigger First, we can use candle pattern There are so many candle patterns I won't discuss much so we won't get confused I'll just explain about some main candle patterns First is doji Doji can be like these ones The point is the open... ...is the same or near the close We must know the open and close prices If we don't know them, we won't find it Let's test it Let's make an example of it Then, there's green candle Let's see the open and close. There's some candles examples here Remember, if it's red If red is dominating, it means the close is below the open If red, the open is above This is open. The below one is close This is the high. Close and low are in the same area because there's no axis below
When the candle changes, the open leaps here, then it goes up It's green at first, then rejected by seller When it's past the open, it becomes red especially if it's closed below, it's red After it's closed here, if it's green, the next open would be here The open is here Usually it leaps around it No tail below, it goes up directly When it's above, there's no rejection, so it's the close Close and high. This one is open and low If green, the close is above the open If seller, red, close is below the open What if the candle is like this? When it's closed above it'll leap to the right. So, the open is here After this, it goes up If it goes down first, there'll be no body because there's high here So, after the candle changed, it went up and green at first It was green, then rejected down by seller After it went past the open, it became red Then, it went down to here This is the low. It's rejected a bit by buyer, and it's closed here We must know the open and close If doji, the open and close are the same It's the first. Doji indicates that the market will turn If it goes up at first, there's chance that it'll go down Not always like that. There are many factors that affect it
We can't just rely on doji. It's just a trigger after there's power Doji is a candle pattern that has no body The character of it is reversal Second is engulfing Engulfing means closing closing the previous candle If the previous candle is red then a green candle appears The green body is way longer than the red candle The volume is closing the previous candle It's called engulfing. Same as green at first then there's longer red candle This can be an early sign that the trend will change because engulfing is a reversal candle pattern, like doji When it goes down, then an engulfing appears which closes the previous candle For this one, it's a sign of changing trend, from up to down It's not our only trigger. It's just the last We must analyze everything first, then we find the trigger Third is hammer and shooting star The function is like doji and engulfing, which is reversal Hammer has a handle below If shooting star, it's the opposite. The handle is above Hammer is at a down trend. Shooting star is at an up trend So, hammer is a sign that reversal will start A reversal, from up to down and vice versa Like doji. If doji, it's just a line
Shooting star has volume If hammer, the body is thick doji only has a small body Fourth is harami Harami is from a big candle, then becomes small candle This is red and green. Although it's small and like a pregnant person it could be a sign of reversal Surely there's requirements This must goes down first, then fulfill the requirements, like psychology level or range This is an early signal that reversal will start Fifth is marubozu Marubozu is thick candle without tail, or with small tail If it's red, then there's chance that it'll be powerful It's a strong momentum, so don't oppose it Otherwise, if it goes up strong and green There's no rejection above and below it could be a sign that the market will continue to go up The previous candles were small This long candle could be a sign that buyer will continue to go up Those are the candle patterns. Those 5 are enough To be continued....
2021-08-31 17:34
