The Rejection Candle formation is easy to identify because it has a large wick that protrudes from end of the body. The body of the candle is located at one end of the candles range and is usually small. The large wick on the Rejection Candle demonstrates to traders that price ‘rejected’ a specific area on the chart.
Long lower wicks communicate bullish rejection and suggest price will most likely move higher. Long upper wicks tell the trader that bearish rejection has taken place and is the tip off for potential downward movement. The rejection candle is the most common and one of the most lucrative trading signals in price action trading.
By using these simple, but powerful candlestick formations, you can really start to gain that edge in the market that most traders need to push them from zero to trading hero. Price action is the most powerful proven trading method and produced the most reliable and best forex signals. Price action trading is no doubt the most successful, popular trading method used in the markets today.That’s we we use it.
We use the Price Action candlestick signals that are discussed in this chapter every day, why wouldn’t we. But don’t take our word for it just look back through your Forex historical data, you will see the explosive moves and the consistency that these signals can produce.
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We like to keep things simple and effective here at The Forex Guy. We use only the best forex signals built on candlestick setups that have proven to produce the best results in everyday trading.
Take a look around, check out our price action forex trading articles and forex training videos or read the latest forex market commentary. Once you make the switch to price action trading, you will view the Forex markets with so much more clarity, you will find it hard to believe how you ever traded without it!
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