Found some “similar but not exactly same” pattern repetitions
I was just taking a break from reading candlesticks,
since these days the market moves kinda slow (as per my observation) , I thought I should step back a bit and see whats going on big picture.
Try to find some sense out of the images, I wont care if you found it to be completely nonsense cuz I’m no genius
also, a really good way I looked at it was pretending to read an EKG, just something for you to know
disclaimer: I did not manage to skim some money off the top. Idk, how…I was confident, but it didnt work out as I predicted. Thats why I say the patterns are not the same, just in a rough sense
It’s clear to me that you are treading the right path by aiming to read candlestick movement. The key is to understand order flow which causes price to move up or down.
You can first see the order flow movement when the price reaches a supply and demand zone. This is where winning traders eiither continue or close their trades, and where new orders are made. It’s up to you to decide whether the bulls or bears are in control, so you are on the right side of a trade.
Then you could then place a limit buy or sell order and wait. For example, a BUY limit order could be placed at $2.40 when a stock is trading at $2.45 . If the price dips to $2.40, the order is automatically executed. It will not be executed until the price drops to $2.40 or below.
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Hmn…I’ll try to learn more about order flow and supply/demand zones. I know a bit about the zones, support+resistance, but not enough to claim I know it. Thanks for the help and for saying I’m on the right path!
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