Use The Engulfing Pattern In Your Trading

There are more than a
dozen candlestick patterns.
Of course, you do not have to memorize
them all. In fact, so many successful traders do not use candlesticks at all. I
use them, but I am interested in only a few patterns. Let me show you one.

10:04:21 (From TradersWire)



Action Symbol Order Type Setup Stop Current Price
Buy YM Market
Long Gap Pullback
10735 10755


Shortly before 10:00 AM, YM (Mini-Dow)
broke down below a gap zone (Overnight sessions are excluded). It appeared YM
was ready to go a lot lower. But, it was touching the 50% retracement level. So,
I decided to observe. As you can see below, YM immediately formed a bullish
engulfing bar. We bought it at the market.

10:11:06

Follow up on YM 



Sell half to lock in 15 points. Move stop to breakeven.  

Have a productive afternoon session.

T.Kamada

If you have questions, feel free to mail them to me.

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