Banker candles happen on all time frames, with Forex trading- banker candles are stronger and more reliable on higher time frames.
Happen a lot at support and resistance, demand or supply and or bearish or bullish order block areas, Fib areas (50%-61.8%), zone areas, etc...
What Are Banker Candles:
They are the opposite move, before large move into other direction. Bullish daily trend, last RED candles before move upwards.
- see Doji candlestick (1st candle- happens during London session)
- see Engulfing two candlestick setup (2nd candle setup- during London/NY overlapping session)
Only people that have capital and can move Forex markets are: hedge funds and big banks
This is mostly called the manipulation phase or fakey area (going into wrong direction of trend of day) if you are scalping or day trading.
Look for big swing moves on 1 hour, 4 hour or daily going wrong direction of major trend on chart, last candle going against trend is bankers candle.
How To Trade: Make this part of your trading edge, strategy and/or plan
1) Set new trade on open of bankers candle excepting next candle to reverse back into major trend direction.
2) Set stop and targets (via ATR x 1.5)<- you can you tube video this concept for information. This is so that you do things same way over and over.
Happen a lot at support and resistance, demand or supply and or bearish or bullish order block areas, Fib areas (50%-61.8%), zone areas, etc...
What Are Banker Candles:
They are the opposite move, before large move into other direction. Bullish daily trend, last RED candles before move upwards.
- see Doji candlestick (1st candle- happens during London session)
- see Engulfing two candlestick setup (2nd candle setup- during London/NY overlapping session)
Only people that have capital and can move Forex markets are: hedge funds and big banks
This is mostly called the manipulation phase or fakey area (going into wrong direction of trend of day) if you are scalping or day trading.
Look for big swing moves on 1 hour, 4 hour or daily going wrong direction of major trend on chart, last candle going against trend is bankers candle.
How To Trade: Make this part of your trading edge, strategy and/or plan
1) Set new trade on open of bankers candle excepting next candle to reverse back into major trend direction.
2) Set stop and targets (via ATR x 1.5)<- you can you tube video this concept for information. This is so that you do things same way over and over.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.