Binomo Strategy With Evening Star Candlestick Pattern And Resistance for Beginners
Today, we'd like to show you an easy-to-use and effective trading strategy that provides consistent entry points in this article.
It is a combination of the Evening Star candlestick pattern and resistance – a simple formula for opening DOWN orders in Binomo.
Evening Star is a high-accuracy reversal candlestick pattern from bullish to bearish that is used as an entry signal to open DOWN orders.
The Evening Star Candlestick Pattern is made up of three candlesticks, which are as follows:
• The first candlestick is a powerful bullish green candlestick.
• Doji candlestick or Spinning Top candlestick as the second candlestick.
• Third candlestick: a strong bearish red candlestick at least 12 times the length of the first.
When Using the Evening Star Candlestick Strategy in conjunction with Resistance
1. Do not stuff (open too many orders) or increase the amount invested to make up for the previous one's loss. This is a trading no-no, and this strategy is no exception.
2. In the Evening Star candlestick pattern, if the third candlestick is too long compared to the first candlestick, ignore it and do nothing.
Because this is a highly accurate signal for a price reversal from bullish to bearish.
The Evening Star candlestick combined with resistance is a very popular trading strategy among traders, particularly newcomers.
Now is the time to put this strategy to the test with a demo account.