Banana setup: question 2 and 3 => Confirmation candle

[Minsk]

Hi Immy,

Can you explain a bit about the confirmation candle you talk about in the "7 rules Banana video" question 2 and 3 and 4?

Is the confirmation candle the next candle that would get a banana number, does it have to be in the direction opposite of the pullback?
In the video, the candle with the pink arrow  is called a confirmation candle.
 
 
 
 
 
 

[immy]

Hi Immy,

Can you explain a bit about the confirmation candle you talk about in the "7 rules Banana video" question 2 and 3 and 4?

Is the confirmation candle the next candle that would get a banana number, does it have to be in the direction opposite of the pullback?
In the video, the candle with the pink arrow  is called a confirmation candle.
 
 
 
 
 
 

 

Yes,
the confirmation candle will be a Bullish Candle in an Up Trend / for Buy Signals and a Bearish Candle for Sell Signals. I use a confirmation candle for when I am interested in taking a 2 Legged pullback. 

[immy]