depends - if the candlewick is too tall where the entry would
not be idea from risk/reward, I will place an order somewhere in
the middle of it sometimes, I don't bother using the top of the
wick if it's too high, only if it's short. And that's why you
want to look at other time frames, you will generally find a better
looking candle on a different time frame, that's why I cover the
gamut with the 3, 5, 10, 15, 20, 30, 60 etc.
there's a lot more about the candlesticks that I could mention
here, tricks I've learned, ones that I look for, ones I avoid, but
I don't have time or the examples at the moment to show.
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Hi matt, the trigger is
RVM trades on ES
Posted by cuqui69 on 19th of Jan 2016 at 10:33 am
Hi matt, the trigger is the top of the doji candle however since is a long tail doji candle , where should we put our stop?
depends - if the candlewick
Posted by matt on 19th of Jan 2016 at 10:42 am
depends - if the candlewick is too tall where the entry would not be idea from risk/reward, I will place an order somewhere in the middle of it sometimes, I don't bother using the top of the wick if it's too high, only if it's short. And that's why you want to look at other time frames, you will generally find a better looking candle on a different time frame, that's why I cover the gamut with the 3, 5, 10, 15, 20, 30, 60 etc.
there's a lot more about the candlesticks that I could mention here, tricks I've learned, ones that I look for, ones I avoid, but I don't have time or the examples at the moment to show.