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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. #1181
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    we need to protect ourselves with good managements and although we havei good skill and understand to get the right timing for trading, one thing that forex is dynamic then sometimes everything can happen in the market and run out from our analysis, candlestick itself is a good indicators, but we need to combine it with the others, and stop loss as the last defense for us.

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  3. #1182
    Trader Toyen's Avatar
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    Quote Originally Posted by pajero View Post
    for this reason we must continue to practice and focus on using a trading system if we want to become the master of the system and can use it to the fullest. This hammer pattern is interesting because it might indicate the occurrence of rejection or retrace in the area of ​​support and resistance, almost the same as the use of doji if in my opinion
    The practice is what i know that will make us know how to trade the market better. There is no perfection in the market, but when we predict the good trading system very well, it will increase the level at which we can be trading and be earning money and likewise have safe trading. To trade the market in the most convenient ways, we need to work on the trendline strategy mainly, that is what i use for proper trading.

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  4. #1183
    Trader pajero's Avatar
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    understanding of hammer is easy to recognize its shape. but whether the next market returns fig or continues it, it may have to be related to the understanding of the candle beside his right and left. indeed most pinbar signals a weakening trend. if there is still a good SL forwarding it might be at the tail end of the pinbar. that's the way it is.

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  5. #1184
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    Quote Originally Posted by pajero View Post
    understanding of hammer is easy to recognize its shape. but whether the next market returns fig or continues it, it may have to be related to the understanding of the candle beside his right and left. indeed most pinbar signals a weakening trend. if there is still a good SL forwarding it might be at the tail end of the pinbar. that's the way it is.
    There is a different being able to have it seen on the chart and then another thing for the trader to be able to see it and then make good decisions on how to trade with it. From what I have learned. The use of the price action is simple but a lot of learning has to be done before the trader be able to have a good winning rate in the business, therefore the best thing the trader should always do is that they should use the higher time frame for good effective results.

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  6. #1185
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    Hammer based price action trading is good, because you can always get the opportunity to trade reversal without issues, price action trading is the best when we look at the different challenges that people have faced with indicators, when we can trade with this strategy successfully, we will come to a point where we always earn without any problems at all.

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  7. #1186
    Trader Azis Muslim's Avatar
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    Quote Originally Posted by simisola View Post
    Hammer based price action trading is good, because you can always get the opportunity to trade reversal without issues, price action trading is the best when we look at the different challenges that people have faced with indicators, when we can trade with this strategy successfully, we will come to a point where we always earn without any problems at all.
    Candlestick patterns are included in price action strategy so it makes sense when traders who understand how to trade and read candlestick patterns properly, they can be included as a price action trader. Hammer pattern is not really that strong to provide us a good accuracy in trading and for reversal purpose. At times it could get us good trading but compared to other patterns just like engulfing, hammer shows half the accuracy than it.

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  8. #1187
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    I have seen the hammer pattern in the different charts but it works 50 percent we should see it in big chart like H1 H4 and DI which are mostly give us good prediction the real upward hammer works when the trend is bearish and upper hammer formed so there are possibility that it will goes up and for inverted hammer we should see the trend first if it is down so it will works.

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  9. #1188
    Trader elghina's Avatar
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    The hammer does not appear every day in market, sometime it works but not at all time will been event. The candlestick patterns of hammer is one of the good candlestick patterns for the trader needs to have good trading skills, this candle to be able to know how to trade well. Very important that any thing we want to make use it of in the market has been much learned and about how to using the pivot point trading or the Fibonacci are the to that is making the support and resistance trading system to know direction of trend. This manner will increase the possibility of earning and more profits to get the success.

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    Trade with your eyes and not trading with what you wish impossible

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