Homing Pigeon Candlestick Pattern.
Homing pigeon candlestick pattern asa pattern hai jo 2 candlestick par mabni hai or es ma ik large candlestick banti hai or second candlestick choti hoti hai or ye pehle ki body k andar he banti hai. Both candlestick ka colour ik he hona chahe. Ye pattern ye information deta hai k market ka current trend weak par chuka hai or market apna trend change karny wali hai.
Scenario of the pattern development.
Es pattern ma jb pehle candle banti hai jo forexample bearish bani hai to eska matlab hota hai k market ko bear ny control kar leya hai. Next session ma price previous session k closing point sy uper sy start hoti hai or previous day ki candlestick ki body k andar he close ho jati hai. Esa serf previous session ki strength ki waja sy hota hai. So ye indicate karta hai k market ka bearish trend close hony wala hai. So agr trader ny trade open kar rakhi hai to ab time hai esko close kar deny ka.
Flexibility of the pattern.
2 session wala homing pigeon pattern zayada flexible ni hota. Ye pattern harami pattern ki tarha hai but es ma ik farak hai k ye 2 candlesrick par mabni hota hai. Bhot sary patterns ki tarha ye pattern b price target provide ni karta. Asa b ho sakta hai k price fast move kar jae or asa b ho sakta hai k serf kuch pip ki he movement ho. Price target k lae trader ko risk reward method ko use karna chahe.
How to use stop loss in homing pigeon pattern.
Agr es pattern k bad market bull ma move kar jae to asi sorat ma hamy stoploss homing pigeon pattern k low point par set karna chahe. Agr trader es pattern ko downward continuation k tor par use karna chahty hain to enko tb tak wait karna chahe jb tak price homing pigeon pattern sy low move na kar jae or es sorat ma unko stop loss homing pigeon ka high point set karna chahe.
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