Learn Pocket Option Hikkake Pattern Strategy

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Hikkake Pattern Overview

The Japanese term “to catch, hook, and ensnare” is hikkake. Daniel L. Chesler, CMT, created it. It was originally mentioned in 2003.

Certain candles produce Hikkake patterns. They develop in various ways. And they will soon inform you of the price’s course.

The Hickake pattern can be categorized as bullish or bearish. It will depend on the way the candles in the pattern are arranged. The bullish ones will usually be easy to spot.

On a candlestick-style chart, pattern searching is the most practical. But a bar chart should also be able to help you locate it. When the pattern is complete, you can anticipate that the price will move in the direction suggested by the Hiskkae pattern’s last candlestick.

Let’s examine the candles in the Hikkake pattern in more detail. The Harami pattern, sometimes called Inside-Day (A), is represented by the first two candles. The second is encircled by the first. B is the candle whose closure is higher than the previous candle’s high or low. The following candle will be on top of or below the preceding candlestick (C). The last candle’s closing (D) occurs either below or above the second candle.

The candles of the Hikkake pattern are generally described in this manner. Let’s now examine the differences between the bullish and bearish patterns.

The Bearish Hickey pattern can be seen in the image above. There is the inside day first. In the first candle, the second candle is dipped. The next candle’s closing is higher than candle A’s high. The subsequent candles’ development is higher than candle B’s low. The last candle’s closing is lower than the A candle’s low. This suggests a downward price movement and that you should make a sell transaction.

The situation is completely different in the picture above. The candle designated as A is consumed by the first candle. The next candle’s close is lower than candle A’s low. The high of the next candles appears to be lower than it was. The pattern’s last candle’s closing is higher than the pattern’s second candle’s high. It generates a signal to enter a purchase trade as well as information on the rising price movement.

How to trade using the Hikkake pattern on Pocket Option

Opening a sell position with the Hiskake pattern

Let me demonstrate what the EURUSD chart means to you. A bearish hickey pattern has emerged throughout the rise. All four of the pattern’s unique candles ought should be visible. The final candle in the pattern predicts a downward movement in the price. In order to sell, you must trade.

Opening a buy trade with the Hiskake pattern

You should buy when you spot the Bullish Hiskake pattern. Such a scenario is depicted in the USD/JPY chart below. The first few candles indicate that there was a brief decline in pricing. However, a breakout follows, and the Hikkake pattern quickly runs out of time. The previous candlestick indicated that the price is about to increase. Publish a buy now trade.

Summary

Understanding various price chart patterns is a very useful skill. You can predict where the price will move next using the Hiskkake pattern.

I believe you ought to set aside at least five minutes. The 1 minute chart has the drawback of being challenging to interpret, especially at first, and of occasionally giving misleading indications.

The Pocket Option practice account should not be overlooked. You should use this opportunity to trade the Hikkake pattern. When moving to a real account, exercise extreme caution. Although the Hikkake pattern is a very helpful trading tool, it does not ensure financial success. Always be prepared to lose.

Last but not least, I’d like you to share your thoughts on the Bearish and Bullish Hickey patterns. This is exactly what the comments section below is for.