Very Useful Strategy to Trade Cryptocurrencies in a Trending Market following the Bullish Three Line Strike Candlestick Pattern
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Assalam-o-Alaikum Steemians !
I'm @moneyster, a professional level Cryptocurrency investor and an analyzer. As usual, today I thought to share another Crypto-related experience with you. I hope this article will be considerably beneficial for all the Steemians in this community
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Bullish Three Line Strike Candlestick Pattern is a very famous Candlestick Chart-based Trading Pattern that we can use as a profitable strategy. The most interesting thing about this specific Candlestick Pattern is that here we have the ability to find the safest Stop-Loss point as compared to other Strategies. It means, we can create a quite accurate Trading setup for a Buy position in any considered Market.
In this Bullish Three Line Strike Candlestick Pattern, we have to consider 4 candles during a Bullish Trend Market. So, the first 3 candles should be clear Bullish candles while the 4th candle should be a quite larger bearish candle as compared to the previous 3 candles. Mainly, this 4th candle should break the 3 candles' Uptrend Pattern and this candle should be closed below the 1st Bullish candle.
For an accurate Trading Setup, these candles should be placed in order according to the above-mentioned steps. If those 4 candles have worked properly, then we can take our entry after the next bullish candle. Furthermore, this last bullish candle should break the Upper wick of the previous bearish candle. After breaking it Upward, we can easily take our entry by placing the stop-loss point in the lower wick of the previous bearish candle.
With the help of this Bullish Three Line Strike Candlestick Pattern, we can easily recognize the bullish continuation situation of a Trending Market. Therefore, we can take a lot of opportunities during this Trending Market as compared to other market conditions. The most interesting and useful feature of this Bullish Three Line Strike Candlestick Pattern is that here we can easily set a suitable Stop-Loss point with the help of the chart pattern which we are following. So, no need to worry about the risk management methods as it provides a very suitable zone to set our stop loss. At the same time, our risk and rewards ratio is considerably high as compared to many other candlestick chart-related patterns.
First of all, I will open BTC/USDT chart using the TradingView platform. Then we need to find proper the Bullish Three Line Strike Candlestick Pattern using the candlestick chart which consists of at least 3 proper bullish candles next large bearish candle according to present and historical data in the chart. After that, we can easily take our entries while breaking relevant patterns. I will further demonstrate it through the BTC/USDT chart.
Below I have demonstrated the Bullish Three Line Strike Candlestick Pattern as a result of a buy setup. Here we can see there are 3 proper bullish candles and the next candle has traded as a large bearish candle. Then the next candle has traded as a strong bullish candle and it has broken the above wick of the previous bearish candle as a result of a good price movement in the chart. At the same time, we will be able to set the stop loss point by using the lower wick of the previous bearish candle.
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In this way, we can easily use the Bullish Three Line Strike Candlestick Pattern to get better and more accessible trading opportunities. However, we can try to combine this strategy with some other indicators to increase the winning percentage.
At the same time, as I said in my previous article, we should remember that all the indicators and strategies are not efficient completely as nothing we can find 100% efficient in the world. So, we should depend only on these strategies and indicators to confirm our trading opportunities.
I have studied the below-sourced articles to study these topics further, and I have explained all the above facts in my own words and experience.
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Thank you @daytona475 for your cooperation. It means a lot to me.
Bah brother has made a very nice educational post. I learned a lot from this post. Thank you brother.
It's really a pleasure to hear that you learned a lot from this article. Stay with me to read such more articles related to these topics.
Hello dearest friend @moneyster
Thank you very much for giving such an informative post.
I enjoyed going through your post and I hope to read more of your interesting post.
#steem-on 💙
I really appreciate your detailed response to my article and am glad to hear that was interesting to you. I hope you will read my future articles too.
Wow today you discuss this post very nice. I hope to read more of your interesting post. Thanks for sharing.
Thank you very much for your positive response to my article. Stay with me to read more such interesting articles here.
A very good entry indicator. I have come across it before and I believe it to be very efficient
Thank you very much for your honest response to my article. It means a lot to me.