Australian Dollar/Canadian DollarEducation
How To Trade The Black Crows Pattern
Criteria
• Market in uptrend
• Three long black candles (or red)
• Open of last two within, or below, prior black real bodies
• Each candle closes at, or near, its low
Market Implication
Top reversal
Support or Resistance
Not used as resistance
How To Trade:
1) Right after completion of 3rd red/black candle place a sell order with stop loss and target.
Noted chart example would have taken 4-5 hrs to hit target, with an almost 1:3 risk and reward setup.
• Market in uptrend
• Three long black candles (or red)
• Open of last two within, or below, prior black real bodies
• Each candle closes at, or near, its low
Market Implication
Top reversal
Support or Resistance
Not used as resistance
How To Trade:
1) Right after completion of 3rd red/black candle place a sell order with stop loss and target.
Noted chart example would have taken 4-5 hrs to hit target, with an almost 1:3 risk and reward setup.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.