The concept of the Master Plus Candle is very popular in Day trading Strategy. There are different ways of looking at this trading strategy, but in its simplest form, a Master Plus Candle is a candle which contains the highs and lows of at least the next more then four candles after it.
The formation of a true Master Plus Candle can be seen on a chart if the next more then four candles are consolidating inside of the tall Master Plus Candle.
The Master Plus Candle trading strategy is famous for the fact that it provides clear patterns and also helps in the identification of breakout points, making it especially useful for traders in the long & short run.
Pairs : Indian Stock (Future Script)
Indicators: None
Chart: Candleticks, Bar chart
Buy Setup:
Entry Point:Master Plus Candle is a candle which contains the highs and lows of at least the next more then four candles after it.
1st Candle Appear 9:15 to 9:30(next more then four candle should not break High & Low),
once setup created wait for Buy breakout If High break master plus candle then go buy side
Target Point : Major High & Low of master plus candle keep target according
Stoploss Point :maintain stoploss low of master Plus candle
Sell Setup:
Entry Point:Master Plus Candle is a candle which contains the highs and lows of at least the next more then four candles after it.
1st Candle Appear 9:15 to 9:30(next more then four candle should not break High & Low),
once setup created wait for Sell breakout If Low break master plus candle then go Sell side
Target Point : Major High & Low of master plus candle keep target according
Stoploss Point :maintain stoploss High of master Plus candle
#Points to be Remember
If master plus candle more then 1.5% then Do not go for setup
The formation of a true Master Plus Candle can be seen on a chart if the next more then four candles are consolidating inside of the tall Master Plus Candle.
The Master Plus Candle trading strategy is famous for the fact that it provides clear patterns and also helps in the identification of breakout points, making it especially useful for traders in the long & short run.
Trade Setup
Timeframes : 15 MinutePairs : Indian Stock (Future Script)
Indicators: None
Chart: Candleticks, Bar chart
Buy Setup:
Entry Point:Master Plus Candle is a candle which contains the highs and lows of at least the next more then four candles after it.
1st Candle Appear 9:15 to 9:30(next more then four candle should not break High & Low),
once setup created wait for Buy breakout If High break master plus candle then go buy side
Target Point : Major High & Low of master plus candle keep target according
Stoploss Point :maintain stoploss low of master Plus candle
Sell Setup:
Entry Point:Master Plus Candle is a candle which contains the highs and lows of at least the next more then four candles after it.
1st Candle Appear 9:15 to 9:30(next more then four candle should not break High & Low),
once setup created wait for Sell breakout If Low break master plus candle then go Sell side
Target Point : Major High & Low of master plus candle keep target according
Stoploss Point :maintain stoploss High of master Plus candle
#Points to be Remember
If master plus candle more then 1.5% then Do not go for setup
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ReplyDeleteIntraday option tips
I know this article is targeted at beginners, but I think it's a great reminder for experienced traders as well, who sometimes forget the basics when they are focusing on more complicated strategies. Thanks! Great refresher!
ReplyDeleteI thought I would say hi outside the forum as well:)
ReplyDeleteThank you so much for these articles on top of your great watchlists in the course. This one especially has really got me thinking, especially in terms of managing trades – might not time be a great confluence factor for a target as well as helping provide more confidence in trade management? Another successful month this month and cannot wait to try out these circles for real next month!
Thanks again,
All the best,