Detailed Guide: Mastering the 5-Minute Candlestick Pattern to Earn $40 Every Day

Trading in the short term can yield big profits if you can confidently identify reliable patterns. Understanding these patterns will help anticipated trades follow price direction and make quick decisions, especially in highly volatile markets. Here is a detailed guide on some reversal screens and next effective steps to help you earn at least $40 per day.

1. Double Bottom and Double Top Patterns Classic reverse model: Double Bottom: This is a reversal sign from the downtrend to the uptrend. When the price forms two equal (almost equal) bottoms and then breaks through the resistance level, this is a signal to execute a buy order. Hai Dinh (Double Top): This is a reversal signal from an uptrend to a downtrend. When two different successful price levels are created and then the support threshold is broken, this is the time to place a sell order.
2. Bull and Bear Flags (Bull and Bear Flags) The next model postulates fast transactions: Bull Flag (Bull Flag): Appears in an uptrend, with a temporary consolidation phase before the price continues to move higher. The entry point is when the accumulating price is broken to the upside. Reduced flag (bear flag): Appearing in a downtrend, when the price consolidates before continuing to decline. The entry point is when the price breaks the consolidation to the downside.
3. Shoulder to Shoulder and Reverse Shoulder to Shoulder (Shoulder / Reverse Shoulder) Model inversion effect: Shoulder to Shoulder (Head and Shoulder): This is a bearish reversal signal. The highest peak (head) is located between two lower peaks (shoulders). When the price breaks below the neckline, it is a signal to sell. Head and Shoulders Reversal (Inverse Head and Shoulders): Price reversal signal. The price forms the lowest low (head) in the middle of a higher low (shoulder). When the price crosses the neckline, this is an opportunity to buy.
4. Ascending Triangle and Descending Triangle (Ascending and Descending Triangles) Model alert malfunction: Ascending Triangle (Ascending triangle): This is the next bullish forum pattern, with bullish highs rising to the resistance zone. When the price breaks out of the resistance zone, go long. Descending Triangle (Descending Triangle): This is the next model of the discount forum, with support from levels that reduce prices to the support zone. When the support zone is broken, sell.
5. Rising Pennant and Down Pennant (Rising Pennant and Falling Pennant) The next model of the chess is similar but sharper: Bullish Signal (Bullish Signal): After a strong uptrend, with a period of triangular consolidation. When the price breaks this triangle, the uptrend continues. Bear flag (Bearish flag): Appearing after a sharp decline, with a period of triangular consolidation. When the price breaks the triangle, the downtrend continues. Professional tips for success Using 5-minute chart: The 5-minute chart provides quick and accurate information for short-term trading. Result of volume analysis: Trading volume increases when price patterns are broken as a significant confirmation signal. Setting stop loss error (Stop loss): Place the fault stop right below or at the critical level of the model to minimize risks. Practice the model regularly: Trade with a demo account to familiarize yourself with the previous images when trading with a real account. Summary Mastering candlestick patterns such as Double Bottom, Flag, Head and Shoulders, or Triangle can help you take advantage of small but frequent price fluctuations to generate stable income. With the right strategy and high discipline, the goal of earning 40 USD per day is entirely achievable.