How to Trade Forex Using Bullish Matching Low Candlestick Analysis

 In the previous article, we discussed the "Bullish Doji Star" candlestick pattern. This time we will discuss patterns "Bullish Matching Low Candlestick" on Forex trading with its confirmation Bullish Matching Low Candlestick. Need us Note that the Bullish Matching Low Candlestick pattern has a medium level of accuracy. This means in using the pattern Bullish Matching Low candlesticks are required to wait for confirmation before making a purchase.

This candlestick pattern is a Bullish candlestick pattern. This candlestick pattern tells us that it is happening trend reversal or price down towards a trend or price up. Of course, this is a buying point with potential that has a maximum profit. To better understand the Bullish Matching Low Candlestick pattern, let's look at the image below.

 Bullish Matching Low

From the picture above, we can see that the Bullish Matching Low Candlestick pattern is formed by two red candlesticks that have long stems. These two candlesticks have the same closing price. To make this discussion easier, let us assume that the candlestick pattern is formed in the daily timeframe.

On the first day, a long red candlestick is formed. This means that it tells us that the candlestick is Bearish continues to dominate. For this reason, it can be predicted that prices will continue to fall in the following days. On the second day, a red candlestick is formed which has a long bar as well. This candlestick has an opening price that is lower than the opening price of the first day and the same closing price as the first day. It tells us that at the beginning of the battle, the Bullish candlestick can dominate the price.

Then, the Bearish candlestick made a very strong counterattack until the Bullish candlestick retreated again. Terms of This Bearish candlestick still comes out as the winner. However, resistance has begun to appear from the Bullish candlestick. We can also see that the Bearish candlestick movement has been stagnant.

Bearish candlestick squad could not move any further. This can happen because the strength of the Bearish candlestick starts weak or it could be a bullish candlestick that is starting to get strong. There is also a possibility that the Bullish candlestick will win the battle prices on the following days. The stock price will continue to rise.

In this case, we are still talking about opportunities. This opportunity may or may not occur. Therefore, what we have said before is very wise and it is very mandatory to wait for a confirmation before making a purchase. Let's look at the following picture below which is a confirmation of the Bullish Matching Low Candlestick:

Bullish Matching Low Confirmation

In the image above as you can see, we have added a long green candlestick and a line

confirmation. We can see that the green candlestick broke above the confirmation line. This means telling us that Bullish candlestick has really taken over the price. Here we have got a very precise confirmation that the candlestick Bullish is much stronger than the Bearish candlestick. The stock price will continue to rise, and it's time for us to make a "HIGHER" buy.

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