MT4 Candlesticks, Patterns, Correlation, Breakouts & Price Action indicators

ANOTHER WAY TO TRADE CANDLESTICKS

---

---

---

**STEP 1:** Choose a long bullish or bearish candle in the daily chart.
In this example, we will use the 9/28/26 bearish candle.

---

---

---

**STEP 2:** Draw a Fibonacci retracement from the top of the candle's body to the bottom of the candle's body.

Don't use the wicks. The wicks represent potential overbought/oversold areas.

The Fibonacci golden zone is between the 38.2%, 50.0%, and 61.8% levels.

As you can see, the price enters the golden zone and bounces back.

If the price breaks above the 61.8% Fibonacci level, the trend is considered an uptrend.

If the price breaks below the 38.2% Fibonacci level, the trend is considered a downtrend.

In this example, since the price couldn't break above the 61.8% Fibonacci level, it means we're still in a **downtrend**.

---

---

---