Friday, October 13, 2017 11:36:39 PM
How to identify Pipe Tops and Pipe Bottoms
The first of the two candlesticks is in the direction of the previous trend and often pierces a support or resistance level. The second of the two candlesticks reverses the price action of previous candle immediately thus rejecting the breakout from the support and resistance level. Thus the two bars stick out of the tops and bottoms of moves like a pipe.
DISCLAIMER: MY POSTS ARE STRICTLY MY OPINION, AND ANY OPINION
PROVIDED DOES NOT CONSTITUTE A BUY,SELL, OR HOLD RECOMMENDATION OR DECISION.
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