MAKE $100 PER DAY ON BYBIT !!! (secret method)

Summary

In this video, the creator demonstrates how to make $100 a day using a highly-rated three-bar candlestick pattern for trading. The pattern consists of three bars: an igniting bar with strong momentum, a pullback bar, and a confirmation bar that signals the trend direction. The video also highlights advanced strategies such as using the 50 EMA to confirm trends, trading at key support/resistance levels, and identifying breakout opportunities. By following these strategies and avoiding common trading mistakes, viewers can enhance their chances of successful trades on the Bybit platform.

Takeaways

• 😀 The video demonstrates how to make $100 per day using a specific Candlestick pattern called the three-bar pattern.
• 😀 The three-bar pattern consists of an igniting bar, a pullback bar, and a confirmation bar, which can indicate either a bullish or bearish trend.
• 😀 A valid igniting bar should have a large body signaling strong momentum; it should be significantly larger than the other candles in the pattern.
• 😀 The pullback bar should be small and of the opposite color of the igniting bar, with its size not exceeding half the size of the igniting bar's body.
• 😀 The confirmation bar should close above the pullback bar for bullish patterns or below for bearish patterns, indicating the continuation of the trend.
• 😀 When a bullish three-bar pattern appears, traders should open a long position, while a bearish three-bar pattern suggests opening a short position.
• 😀 Traders should avoid forcing a pattern if the igniting bar does not show significant size relative to the other bars in the pattern.
• 😀 Quick sharp price movements are not ideal setups for the three-bar pattern; a gradual price movement is more valuable for a successful trade.
• 😀 One strategy to improve success is to compare the three-bar pattern with a trend confirmation indicator, such as the 50 EMA, to ensure you’re not trading against the main trend.
• 😀 Another strategy involves applying key price levels like support and resistance to identify potential bounce points, confirming the setup with the three-bar pattern.
• 😀 The third strategy is to look for breakout opportunities, particularly when the price breaks out of a consolidation channel while forming a corresponding three-bar pattern.
• 😀 Risk management is crucial in all strategies, where traders should set stop losses above/below the pullback bar and set profit targets at twice the stop loss distance.

Q & A

What is the three-bar candlestick pattern?

The three-bar candlestick pattern consists of three consecutive candles: an igniting bar with a large body indicating strong momentum, a pullback bar which is small and opposite in color to the igniting bar, and a confirmation bar which is medium or large and closes above the pullback bar. This pattern can signal a trend reversal or continuation.

How do you recognize a bullish three-bar pattern?

A bullish three-bar pattern consists of a large green igniting bar, followed by a small red pullback bar, and a green confirmation bar closing above the pullback bar. This indicates upward momentum in the market.

What signals a bearish three-bar pattern?

A bearish three-bar pattern consists of a large red igniting bar, followed by a small green pullback bar, and a red confirmation bar closing below the pullback bar. This suggests downward momentum in the market.

What mistake do traders make when identifying the igniting bar?

Traders often try to force an igniting bar, even when the candle’s body is not significantly larger than the others. An igniting bar should have a substantially larger body to signal strong momentum.

Why should sharp price movements be avoided when trading the three-bar pattern?

Sharp, quick price movements are usually not sustainable and often result in pullbacks. The three-bar pattern is more reliable when formed in the middle of a gradual trend rather than after sharp movements.

How can the EMA (Exponential Moving Average) help in trading the three-bar pattern?

The 50-period EMA can help confirm the trend. If the price is above the EMA, look for bullish three-bar patterns; if it’s below the EMA, look for bearish patterns. This ensures you're trading in the direction of the overall market trend.

What is the ideal trade setup when using the EMA strategy with the three-bar pattern?

If the price is above the 50 EMA, you should only look for bullish three-bar patterns and open long positions. If the price is below the 50 EMA, look for bearish patterns and open short positions.

How does using support and resistance levels improve trading with the three-bar pattern?

Support and resistance levels help identify key price points where price tends to reverse or consolidate. A bullish three-bar pattern formed near a strong support level can indicate a potential bounce upward, while a bearish pattern near resistance can signal a potential drop.

What does a breakout of a channel combined with a three-bar pattern indicate?

A breakout combined with a three-bar pattern indicates a strong potential for the price to continue in the breakout direction. For example, a bearish three-bar pattern breaking down through a support level suggests a continuation of the downward trend.

What are the risk management guidelines for trading with the three-bar pattern?

For risk management, set your stop loss just above or below the pullback bar's wick (depending on whether you're long or short), and set your profit target at twice the stop loss distance. This helps manage risk and maximize potential reward.