Hi Rich
I am a member of the OMT Trader group so sticking with FOREX pairs for now
Can you explain why or give your thoughts on the differend types/shapes of candles
I keep gettng trades knocked out by what I call “Spike” candles, these have a small boddy, say 5pips between opening and closing prices but may have a very long wick, say 30 – 50 pips. These tend to hit my SL and close trades only for the price to shoot back up. Is there any rational thinking behind this huge price swing, especially on the M15 scale.
is there any way to protect a trade against this, apart from having a very loose SL
Thoughts on other candle types would be helpful in trying to understand past trading paterns
Regards
Keith