The Hikkake pattern indicator chart helps traders anticipate breakouts in the asset’s price movement.
There are two types of hikkake patterns, a bullish hikkake pattern and a bearish hikkake pattern. Hikkake patterns include a volatile move in the asset’s price in one direction followed by a dramatic reversal. This twitch can be dangerous for traders caught on the wrong side of the trade while attempting to trade the upcoming price trajectory.
Recognising Hikkake pattern formation allows traders to avoid or take advantage of a Hikkake trap. However, many traders struggle to recognise the unique Hikkake pattern candlestick setup when it occurs, and many more traders misidentify certain candlestick movements as Hikkake pattern setups. Our Hikkake pattern indicator chart takes the guesswork out of recognising this particular candlestick setup. The chart also indicates those tricky times where Hikkake moments were forming but did not fully complete the candlestick pattern.