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Trading Price > Trading Price 1: Candlesticks > Flashcards

Trading Price 1: Candlesticks Flashcards

1
Q

Price

A
  1. Current Price 2. Past FIlled orders (chart) 3. Volume 4. Unfilled Orders - Turning Point
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2
Q

Expanded Range Candle

A

Red: strong selling pressureGreen: strong buying pressureLook for origin of where that happened.ERC - starting a move = proERC - in the direction of trend = novices

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3
Q

What happened before ERC?

A
  1. Unfilled orders 2. NRC - most of the time, an NRC preceeds an ERC or vice versa. 3. Therefore, when see ERC, expect a NRC Or a momentum shift. 4. Can be a reversal, or a continuation
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4
Q

If see Green ERC and in market

A

Getting ready to sell, or moving stop up waiting for new information. Psychological pause

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5
Q

If see Green ERC and not in market:

A

Getting ready to short waiting for new information. psychological pause

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6
Q

NRC Narrow Range Candle

A

The buyers and sellers don’t know what to do, so they are staying put. not doing anything. can be either green or red proceeds or follows ERC

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7
Q

Bullish, Bearish, or Neutral?

A

Bullish

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8
Q

Bullish, Bearish, or Neutral?

A

Bullish

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9
Q

Bullish, Bearish, or Neutral?

A

bullish

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10
Q

Bullish, Bearish, or Neutral?

A

Bearish

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11
Q

Bullish, Bearish, or Neutral?

A

Neutral

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12
Q

Bullish, Bearish, or Neutral?

A

bearish

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13
Q

Bullish, Bearish, or Neutral?

A

Bullish

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14
Q

Bullish, Bearish, or Neutral?

A

Bearish

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15
Q

Bullish, Bearish, or Neutral?

A

Bearish

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16
Q

Bullish, Bearish, or Neutral?

A

Neutral

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17
Q

Buying Pressure Color was red, but selling pressure turned it green

A
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18
Q

Selling Pressure: Color was green, but selling pressure turned it red

A
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19
Q

Red: strong selling pressure Green: strong buying pressure Look for origin of where that happened.

A

Expanded Range Candle

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20
Q

Bullish Harami

A
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21
Q

Bullish Harami 2 places when to trade when in demand zone #2 entry

A

1st trade entry point : once price breaks above (not closes above) the baby harami. so will be entering on the candle after the Harami baby candle. 2nd entry point: once price breaks above (not closes above) the mommy Harami. So will be entering on the candle after the Harami baby candle. Do not enter unless you are in the demand zone.

22
Q

3 entry points for Demand Zone

A
  1. when price enters Demand Zone (set it and forget it) 2. When price goes to whatever 2 places of trading entry within demand zone (usually when monitoring, but can use for set it and forget it when trading with 240 min charts) take the first entry every time. don’t wait for second 3. After the price exits Demand zone
23
Q

Bullish Engulfing

A
24
Q

Bullish Engulfing 2 places when to trade when in demand zone #2 entry

A

1st trade entry point : once price breaks above (not closes above) the red candle. so will be entering on first green candle. 2nd entry point: once price breaks above (not closes above) the first green candle. So will be entering on the 2nd green candle Do not enter unless you are in the demand zone.

25
Q

timeframes when analyzing candles

A
  • within the demand zone: 2 - 5 min charts, usually 2 min - to figure out the zone, will be 60 min - 240 min chart to figure out trend, will use daily chart
26
Q

Bullish Piercing Line

A
27
Q

Bullish Piercing Line 2 places when to trade when in demand zone #2 entry

A

1st trade entry point : once price breaks above (not closes above) the first green candle. so will be entering on second green candle. 2nd entry point: once price breaks above (not closes above) the last red candle. So will be entering on the 2nd green candle Do not enter unless you are in the demand zone.

28
Q

Bullish Hammer

A
29
Q

Bullish Hammer 2 places when to trade when in demand zone #2 entry

A

1st trade entry point : once price breaks above (not closes above) the Hammer candle. so will be entering on second green candle. Do not enter unless you are in the demand zone.

30
Q

Bearish Harami

A
31
Q

Bearish Harami 2 places when to trade when in demand zone #2 entry

A

1st trade entry point : once price breaks below (not closes below) the baby harami. so will be entering on the candle after the Harami baby candle. 2nd entry point: once price breaks below (not closes below) the mommy Harami. So will be entering on the candle after the Harami baby candle. Do not enter unless you are in the supply zone.

32
Q

Bearish Engulfing

A
33
Q

Bearish Engulfing 2 places when to trade when in demand zone #2 entry

A

1st trade entry point : once price breaks below (not closes below) the green candle. so will be entering on first red candle. 2nd entry point: once price breaks below (not closes below) the first red candle. So will be entering on the 2nd red candle Do not enter unless you are in the supply zone.

34
Q

bearish Dark Cloud Cover

A
35
Q

Bearish Dark Cloud Cover 2 places when to trade when in demand zone #2 entry

A

1st trade entry point : once price breaks below (not closes below) the first red candle. so will be entering on second red candle. 2nd entry point: once price breaks below (not closes below) the last green candle. So will be entering on the 2nd red candle Do not enter unless you are in the supply zone.

36
Q

Bearish Shooting Star

A
37
Q

Bearish Shooting Star 2 places when to trade when in demand zone #2 entry

A

1st trade entry point : once price breaks below (not closes below) the shooting star candle. so will be entering on second red candle. Do not enter unless you are in the supply zone.

38
Q

What Pattern is this equal to?

A
39
Q

What Pattern is this equal to?

A
40
Q

What Pattern is this equal to?

A
41
Q

What Pattern is this equal to?

A
42
Q

What Pattern is this equal to?

A
43
Q

What Pattern is this equal to?

A
44
Q

Explain this Location importance of graph

A
  • want to see demand zone on the left on all bottoms that you are about to trade into - want any of the bullish patterns at the bottoms - if in the trade SHORT, then can use the patterns as a trigger to exit. - Going in at Location #3 is best, -#2 is better than getting in on Location #1 because counter trend trade, the profits are limited.
45
Q

Explain this Location importance of graph

A
  • want to see supply zone on the left on all peaks that you are about to trade into - want any of the bearish patterns at the peak - if in the trade LONG, then can use the patterns as a trigger to exit. - Going in at Location #3 is best, -#2 is better than getting in on Location #1 because counter trend trade, the profits are limited.
46
Q

Bullish Morning Star

A

usually has gaps between the previous/post candle, thus also known as an island

47
Q

Bullish Morning Star 1 place

A

aggressive style trading because you are chasing price. waiting for the gap up the next morning. momentum trading

48
Q

Bearish Evening Star

A
49
Q

Bearish Evening Star 1 trade

A

AKA reverse island patternneed to see the gap the next day.

50
Q

4 common reversal candles in great locations

A
  1. bottom tails2. topping tails3. doji (need more evidence than by itself)4. nrc(need more evidence than by itself)

Trading Price (14 decks)

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