Hook reversal is a candlestick reversal pattern that hypothetically predicts a reversal trend about the previous candle range. Hook reversal pattern usually consists of two candles where the current candle is in the range with the previous candle.
Bullish to bearish hook reveal:
The Open bar is near the High price
The Close bar is near the Low price level
There is a lower High and Higher Low compared to the previous day.
Bearish to bullish hook reveal:
The Open bar is near the Low,
The Close must be near the High, and
There is a lower High and Higher Low compared to the previous day.
Let us see an example on image:
Trader at Leanta Capital
Igor has been a trader since 2007. Currently, Igor works for several prop trading companies.
He is an expert in financial niche, long-term trading, and weekly technical levels.
The primary field of Igor's research is the application of machine learning in algorithmic trading.
Education: Computer Engineering and Ph.D. in machine learning.
Igor regularly publishes trading-related videos on the Fxigor Youtube channel.
To contact Igor write on:
igor@forex.in.rs
He is an expert in financial niche, long-term trading, and weekly technical levels.
The primary field of Igor's research is the application of machine learning in algorithmic trading.
Education: Computer Engineering and Ph.D. in machine learning.
Igor regularly publishes trading-related videos on the Fxigor Youtube channel.
To contact Igor write on:
igor@forex.in.rs
