December 29, 2020
​Double Doji Strategy: Allow Profits of Hundreds of Pips
When
two dojis form one after one on the charts, traders can consider the
Double Doji Forex Breakout Trading Strategy. Learn more about best
trading strategies on WikiFX bit.ly/wikifxIN.To get more news about WikiFX, you can visit wikifx official website.
  The doji is one of the most popular candlestick patterns, which
reveals indecision in the market. It suggests that neither buyers nor
sellers are in control and that price is about to break in either
direction. It doesnt matter whether the market is going to go up or down
at this point because a clear trend will emerge afterwards. Whichever
way it goes, the thing you need to do is place pending buy stop and sell
stop orders on both sides to capture the breakout.
1. Watch until you spot 2 consecutive doji candlesticks on the charts;
  2. Mark the high and low of the doji borders;
  3. Wait for the third candlestick to close;
  4. If the third candlestick closes above the upper border, buy at
market and place your stop loss 2-3 pips below the low that you marked,
or you can place it 2-3 pips below the low of the third candlestick.
  5. If the third candlestick closes below the lower border, sell at
market and place your stop loss 2-3 pips above the high that your
marked, or you can place it 2-3 pips above the high of the third
candlestick;
  6. In terms of profit target, you can use previous
swing highs for buy orders and swing lows for sell orders, or you can
target three times what your risked.
Posted by: wisepowder at
01:56 PM
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