It is a price pattern characterized by two upper touches in one zone.
The market falls from finding support in a zone followed by a bullish rally
and then again on the market it falls again to find support in the same
zone. After this second touch of the zone, the market starts a strong and constant rise.
----- BUT HOW DO I ENTRY ON THE TRADE?!!?---
1) The BUY STOP is
placed a few pips above the first bullish candlestick after the second touch.
2) The STOP LOSS is placed a few pips below the first touch.
3) The market falls unexpectedly and touches the zone again,
but the stop loss is not triggered and the market back up AND MONEY MONEY.
The market falls from finding support in a zone followed by a bullish rally
and then again on the market it falls again to find support in the same
zone. After this second touch of the zone, the market starts a strong and constant rise.
----- BUT HOW DO I ENTRY ON THE TRADE?!!?---
1) The BUY STOP is
placed a few pips above the first bullish candlestick after the second touch.
2) The STOP LOSS is placed a few pips below the first touch.
3) The market falls unexpectedly and touches the zone again,
but the stop loss is not triggered and the market back up AND MONEY MONEY.