No indicators... No EAs... No Signals... Just Using Forex PRICE ACTION to Make Money
In this course, you will acquire the technical analysis skills to make money from successfully trading Long Shadow Candle and Oracle Candle strategy.
Session 1 - 6 Oct 2018 (Sat) - 10am to 5pm
Session 2 - 9 Oct 2018 (Tue) - 7pm to 10.30pm
LIVE Market Learning - Long Shadow Candle
Session 3 - 10 Sep 2018 (Wed) - 7pm to 10.30pm
LIVE Market Learning - Oracle Candle Strategy
All Our PAID Participants Receive a FREE Copy of Dr. FOO's Trading Naked Book
Long Shadow Candle Strategy
Professional traders describe the Long Shadow candle patterns by different names. Some traders call it the Pin bar. Others name it as the Kangaroo tail.
A Pinocchio bar, abbreviated as Pin Bar is a price candle that is poking its long nose outwards and is telling you a lie about where the price is going. The name is based on the story about the wooden boy, Pinocchio, whose nose grew longer every time he tells a lie. The bigger the lie, the longer the nose!
A Pin bar has a long nose. The long nose protrudes a long way from the prices around it the (“eyes”). The open and close of the Pin bar are near one end of the candle. It is telling us to trade the opposite direction to where the nose is pointing.
Some professional traders use the Pin bar to pinpoint reversal entry or exit. The Pin bar is a one-bar reversal pattern. The Pin bar is a price candle, which has rejected higher or lower prices. Price will open and move in one direction and then reverse to close at or past the open. The Pin bar reversal will work in markets from extremes of ranges or volatile swing markets or trending markets.
Oracle Candle Strategy
The Oracle candle is a very special and unique candle.
The basic Oracle patterns consist of three candles - candle 1, candle 2 and candle 3. The candle 2 is special and has much significance in trading and it is called the Oracle candle.
The Oracle candle has a real long body as compared to candle 1 and candle 3, which have relatively short real bodies. It is very easy to spot an Oracle candle on a chart because of its long body. The colour of the Oracle candle determines whether it is an uptrend move or down-trend move.
The Oracle candle trading strategy is a discretionary trading technique. It is not a mechanical trading strategy. The most profitable trading strategy is based on the decision making by the traders. Obviously this trading strategy will require a trader with considerable trading experience in the market that he or she is trading.
There are essentially three Oracle candle trading strategies: