ilmscore | This Investopedia Strategy I Found Online Surprised Me... (YOU WILL NOT BELIEVE WHAT HAPPENED)

This Investopedia Strategy I Found Online Surprised Me... (YOU WILL NOT BELIEVE WHAT HAPPENED)

Published: 2020-04-30
Status: Available | Analyzed

Predictions from this Video

Total: 12
Correct: 0
Incorrect: 0
Pending: 12
Unrated: 0
Prediction
Topic
Status
The hammer candlestick trading strategy, when tested over 10 years on the New Zealand Dollar daily chart, achieved over a 60% win rate.
"this strategy provided an edge over the market this is what blew me away it provided over 60 percent in terms of winning percentage"
Trading Strategy Performance
Pending
A price decline, for the purpose of this strategy, is defined as at least one red candle.
"we need one candle at least pushing down"
Hammer Candlestick Rules
Pending
A hammer candlestick's real body must be small, with the lower shadow being at least twice the size of the body.
"the real body of the candle needs to be small and the lower shadow needs to be at least twice the size of that"
Hammer Candlestick Rules
Pending
The body of a hammer candlestick must close within the top 33.3% of the entire candle's range.
"the upper body of the candle whether it's green or red must close within the top 33.3% of the full candle"
Hammer Candlestick Rules
Pending
A Fibonacci retracement tool can be used to identify hammer candlesticks by setting a 33.3% level to ensure the body closes within the top third.
"the easiest way to do that is find the Fibonacci tool on your platform go to adjust the Fibonacci tool and put 33.3 as one of the levels your Fibonacci tool shows you"
Hammer Candlestick Identification
Pending
A green candle immediately following a hammer candlestick serves as the confirmation for the trading strategy.
"I'm waiting on a green candle so if I have a hammer candle all I need to see is a green candle afterwards that is my confirmation candle"
Hammer Candlestick Confirmation
Pending
The entry point for trades using this strategy is the close of the confirmation candle.
"for an entry it's just the close of my confirmation candle"
Trading Strategy Entry
Pending
The stop-loss for trades should be placed below the hammer candlestick.
"the stop-loss would go below our hammer candlestick"
Trading Strategy Stop-Loss
Pending
A 1.4:1 risk-reward ratio was used for setting targets in the testing of this strategy.
"for a target I did a one point four to one risk reward"
Trading Strategy Target
Pending
Trading the hammer candlestick pattern when it occurs at support/resistance or bounces off a moving average could potentially increase its accuracy.
"what if you said I only trade this type of candlestick pattern when it bounces off a moving average or bounces off support or resistance"
Strategy Improvement Ideas
Pending
Combining the hammer candlestick strategy with RSI indicators to trade only in overbought or oversold conditions may enhance accuracy.
"what if you said I only trade this strategy in overbought and oversold markets you put an RSI on the screen would that increase accuracy"
Strategy Improvement Ideas
Pending
The hammer candlestick strategy tested on the NZD/USD daily chart over 10 years achieved a win rate exceeding 60%.
"this strategy provided an edge over the market this is what blew me away it provided over 60 percent in terms of winning percentage"
Trading Strategy Performance
Pending