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Price Bar Patterns

Whether you use candlestick charts or simple OHLC (open high low close) bar charts, the behaviour of the price bars themselves can be useful in signaling and end to a pullback.

Like volume, they demonstrate the transfer of longs to shorts or vice versa. The three main patterns are the hammer, tweezers and the doji.

When price has been moving down, a bullish trigger would be a hammer, bullish tweezers or a doji (the longer the wick the better).

When price has been moving up, a bearish trigger would be an inverted hammer, bearish tweezers or a doji (the longer the wick the better).

 

 

Move on to Step 4 - Module 2 > Trading System Builder Tool Kit: Trading Rules > Trigger: Breakouts

 

  

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