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Home > [ ] 1H Candle Checks [ ] Candle Size Check: Is the 1H candle size within acceptable range (e.g.,

[ ] 1H Candle Checks [ ] Candle Size Check: Is the 1H candle size within acceptable range (e.g.,

Verify the high and low of the 1H candle.

Calculate the candle size (high - low).

Check if the candle size is within the acceptable range (e.g., between X pips and Y pips).

Note any anomalies or outliers in candle size.

Determine if the candle is bullish or bearish.

Check for doji or indecision candles.

Identify any significant patterns (e.g., engulfing, pin bar).

Review the trading volume for the 1H candle.

Compare the volume against the average volume for the last X hours.

Assess if the volume is above or below the expected level for significant moves.

Identify the overall trend direction (up, down, sideways).

Cross-reference with higher timeframes (e.g., 4H, Daily) for trend alignment.

Note any divergences with indicators (e.g., RSI, MACD).

Review any scheduled economic news/events during the 1H candle.

Assess the potential impact of the news on price action.

Note any previous price reactions to similar news/events.

Determine the stop-loss placement based on candle size and market structure.

Assess position sizing based on your risk tolerance.

Evaluate the risk-reward ratio for potential trades.

This checklist will help ensure a thorough analysis of 1H candles before making trading decisions.

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