subject: Using candlestick and bar setups to trade Forex [print this page] Once this set up is complete many traders will place an order at the high of the bullish 3rd candle and a stop just below the low of the hammer candle. Used alone this strategy is best for scalping 15-30 pips and then taking some profit and moving the stop up the same number of pips - ie 15 30 pips higher. The trade can then be managed individually. Used in conjunction with other indicators such as Pivot levels and moving averages it can pick particularly high probability trading opportunities.
Using candlestick and bar setups to trade Forex
By: forex4you
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