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Thread: simple hammer pattern based price action with trend line

  1. #1
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    simple hammer pattern based price action with trend line

    guys i am sharing with you simple price action strategy which is very much profitable for me.i am getting 90 percent winning results by using that trading system.
    in this strategy we use candlestick chart it work best only on 1h,4h and 1d time frame.
    after opening a chart then a trader need to wait for the hammer pattern that is mention in the picture that there is two types of hammer pattern bullish and bearish. bullish hammer pattern in which fill candle on up side and pin side lies below the fill candle.
    bearish hammer pattern in which fill candle on down side and pin side lies above the fill candle.
    when every you find a bearish or bullish hammer candle draw trend line.
    wait for second candle and place order if candlestick moving in the direction of trend line
    trader can earn easily 20 to 40 pips using this simple strategy.

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  2. #1131
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    In price action trading strategy we will basically use the support and resistance level trading method and combine the price action with trend line we will get more accuracy in trading. These two trading methods are best for us to follow in trading and use best methods in trading this is easy for us analysis the market trend well and earn money from this business.

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  3. #1132
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    There are so many trading methods and approaches that we can make use of when dealing with the market. Learning is what we need, the traders that really wants to become profitable should understand the candlestick patterns, because according to my knowledge and experience, it is close to perfection and the means of being profitable. It will not be simple, however, the trend line usage will help with the identifying with the support and resistance levels.

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  4. #1133
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    If you are getting 90% winning rate from this indicator or strategy, then it must be very special, that is how Forex works by the way, a strategy might be found to be highly profitable by someone but the next trader could be wondering what is happening because he has used that same indicator without success as projected, there are different factors that could be responsible for this type of scenario.

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  5. #1134
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    Quote Originally Posted by Leonvic View Post
    If you are getting 90% winning rate from this indicator or strategy, then it must be very special, that is how Forex works by the way, a strategy might be found to be highly profitable by someone but the next trader could be wondering what is happening because he has used that same indicator without success as projected, there are different factors that could be responsible for this type of scenario.
    90% is more of an exaggeration because if anyone have such a thing then it will not take him much time to cross Warren Buffet. With every chart pattern we should have a defined working manner, like with hammers we can look at the next candles forming or certain SOR levels. Trading based on knowledge is logical trading and trading based on luck is gambling.

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    These are the best option for work because there are so many pattern we have which indicate next candlestick formation this is most important and helpful in work , if we have practice about its application so we develop always our trade plan in better way to get good and profitable trade results from market .

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    Quote Originally Posted by Runner View Post
    These are the best option for work because there are so many pattern we have which indicate next candlestick formation this is most important and helpful in work , if we have practice about its application so we develop always our trade plan in better way to get good and profitable trade results from market .
    Best for the traders who has accepted it as being the best and then learned it, because only when there is learning and then more discipline, that is when the trader can have the pin bar work for them, in the sense that a lot of people know about it, but then only few are making money with it. So, knowing about it is not enough only.

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    The hammer is one of the six candlestick formation that we have in the forex market that helps to know when there is going to be a reversal in the market. It is a very distinctive candlestick which is easily noticed anytime it comes up in the market . It is easy to capitalized upon to trade reversal especially when it is seen on the higher time frames such as the H4 or daily time frames.This is one of the easiest way to make money after a trend run in the market.

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  9. #1138
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    Quote Originally Posted by glory3 View Post
    The hammer is one of the six candlestick formation that we have in the forex market that helps to know when there is going to be a reversal in the market. It is a very distinctive candlestick which is easily noticed anytime it comes up in the market . It is easy to capitalized upon to trade reversal especially when it is seen on the higher time frames such as the H4 or daily time frames.This is one of the easiest way to make money after a trend run in the market.
    There are many candle formations not just 6, I think there are 100s of them and we have to find those that are good for our trading. When we are using hammers or pin bars it is important to know well the SOR levels and then we can trade with a strong strategy. When our strategy is to work with the hammer patterns we can use it to trade trend reversals and spot like opportunities in the market.

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  10. #1139
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    Quote Originally Posted by geddam View Post
    There are many candle formations not just 6, I think there are 100s of them and we have to find those that are good for our trading. When we are using hammers or pin bars it is important to know well the SOR levels and then we can trade with a strong strategy. When our strategy is to work with the hammer patterns we can use it to trade trend reversals and spot like opportunities in the market.
    There are candle formations much more than 100 and a few times more. All these candle formations principally mean nothing as they are only information in the form of candles and one trader can see one formation in one time frame and another trader will see the other candle formation in higher timeframe. They are useful only after breakout of support resistance levels.

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  11. #1140
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    The knowledge about hammer or the use of hammer does not translate automatically into success for anyone as forex traders. There are some other few things that we need to combine with the use of the hammer candlestick before we can make success out of it. For example, on what time frame do we see this hammer candlestick?, At what point in the market is it coming up?if it is at a very good support levels zone, then we can be having a good hammer set up in our hand.

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