Smoothly using a standard signal candlestick pattern in trading is enough for you to make money with binary options. In June, I made over $100 in Binomo using only the Bearish Harami candlestick pattern. Stay tuned for my article today on how to trade with this exceptionally effective candlestick pattern.
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Video on depositing and withdrawing on the 1st week of June in Binomo
This is my video on depositing and withdrawing money in Binomo. Regarding the trading process, I will describe it in the rest of the article.
Recall knowledge about the Bearish Harami candlestick pattern
Bearish Harami candlestick pattern is a candlestick pattern in the Harami pattern family. This is a reversal candlestick pattern from bullish to bearish that occurs when prices make a peak. This candlestick pattern consists of 2 candles with a special structure. Combining the 2 candles of this candlestick pattern, you will get a Bearish Pin Bar or Shooting Star candlestick. This is a very strong signal of price reversal from up to down.
Some types of Bearish Harami candlestick patterns to note
On the Japanese candlestick chart, you don’t always come across a standard Bearish Harami candlestick pattern. Certain types of Harami patterns will often appear more frequently with greater accuracy. Especially when they appear in special price zones such as resistance.
Capital management method for this effective trading strategy in Binomo
Because this is a special candlestick pattern, it rarely appears on the price chart. However, when it appears, the signal that Harami candlestick patterns offer is very good. Statistics show that the Bearish Harami candlestick pattern appears 3-5 times per week for every currency pair. So, I use the Classic capital management method which means to open orders with a constant amount of capital.
“Practice 1 kick 1000 times, don’t practice 1000 kicks”
May I quote the classic saying from Bruce Lee in this section. You just need to understand the characteristics and habits of the price when creating candlestick patterns. Along with that, carefully considering market factors will help you make money with this trading strategy in Binomo.
Knowledge is endless. You cannot learn and understand everything. Instead, focus on a specific skill. Learn it thoroughly and apply it in practice. Cultivate yourself to be a master when using it. In binary options trading, this trading style is absolutely effective.
Trading principles
Once you have traded on a Real account, be sure to tell me that you have to follow the principles when trading. This is vital for your account balance. If you have not already done so, please allow more practice with the DEMO account. Principles are principles. There is no room for violation or breaking.
Trading principles using Bearish Harami candlestick pattern
- Only open DOWN orders when encountering the Bearish Harami candlestick pattern.
- Do not open orders with an expiration time below 5 minutes.
- Do not trade 30 minutes before and after breaking news release.
- Can be applied to all types of assets.
- Never open many orders at once or consecutively.
Review on actual entry points last week with the Bearish Harami candle pattern strategy
In this section, I will focus on the practical experience required when opening an order with this trading strategy.
Because the Bearish Harami candlestick pattern appears with low frequency, you can only have 1-2 trades with this trading strategy per day.
How to open an order: Open a DOWN order when prices create a Bearish Harami pattern in the resistance zone.
Orders on Monday (June 01)
Reasons for opening orders: The EUR/USD currency pair bounced back strongly after a sharp decline. It then touched the resistance forming a Bearish Harami candlestick pattern. Opened a DOWN order with an expiration time of 2- minutes (ended at 11:15). I won.
Tuesday (June 02)
Reasons for opening orders: It was still the EUR/USD pair. The price was in an uptrend but then went sideways slightly and created a Bearish Harami candlestick pattern. Opened a DOWN order with an expiration time of 5 minutes. (Because the price was in an uptrend, the order should be short.) I won.
Wednesday (June 03)
Reasons for opening orders: The price was in a downtrend but returned to retest the new resistance with a Bearish Harami candlestick pattern. Opened a DOWN order with an expiration time of 20 minutes. I won.
The last line
I would like to stop my post here. Thank you for reading. Look carefully at the article to see what you are missing, what you need to make money in Binomo. Finally, I would like to wish you all success in trading.
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The post How To Make $100 In Binomo With Bearish Harami Candlestick Pattern appeared first on How To Trade Blog.
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