The BPC Strategy is used for entering trades when there's been a breakout of a level or zone (horizontal or trend 📉 📈 line(s) which represent support or resistance).
If the breakout is sufficient and clear enough without any disputes and there's a clear enough pullback followed by a sign of continuation, a trade can be entered.
So BPC can then be interpreted as Breakout, Pullback and Continuation.
For a breakout of a level or zone of support, at the end of the pullback, there should be a candlestick 🕯️ pattern that indicates a continuation of the downward 👇⬇️ trend 📉.
For a breakout of a level or zone of resistance, at the end of the pullback, there should be a candlestick 🕯️ pattern that indicates a continuation of the upward 👆 ⬆️ trend 📈; in the chart shown for GBPUSD, the candlestick 🕯️ pattern is a bullish harami candlestick 🕯️ pattern which indicates a likelihood of upward momentum.
There are three major reliable candlestick 🕯️ patterns for trade entry when using the BPC Strategy. They are:
1. Harami candlestick 🕯️ pattern (bullish/bearish).
2. Engulfing candlestick 🕯️ pattern (bullish/bearish).
3. Hammer 🔨/pin bar (bullish) or inverted hammer/inverted pin bar (bearish) candlestick 🕯️ pattern.
If the breakout is sufficient and clear enough without any disputes and there's a clear enough pullback followed by a sign of continuation, a trade can be entered.
So BPC can then be interpreted as Breakout, Pullback and Continuation.
For a breakout of a level or zone of support, at the end of the pullback, there should be a candlestick 🕯️ pattern that indicates a continuation of the downward 👇⬇️ trend 📉.
For a breakout of a level or zone of resistance, at the end of the pullback, there should be a candlestick 🕯️ pattern that indicates a continuation of the upward 👆 ⬆️ trend 📈; in the chart shown for GBPUSD, the candlestick 🕯️ pattern is a bullish harami candlestick 🕯️ pattern which indicates a likelihood of upward momentum.
There are three major reliable candlestick 🕯️ patterns for trade entry when using the BPC Strategy. They are:
1. Harami candlestick 🕯️ pattern (bullish/bearish).
2. Engulfing candlestick 🕯️ pattern (bullish/bearish).
3. Hammer 🔨/pin bar (bullish) or inverted hammer/inverted pin bar (bearish) candlestick 🕯️ pattern.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.