Confluences: 1/ with the recent formed downtrend 2/ Broke TL + retest 3/ Tested the 130.000 weekly resistance 4/ Bounced of the 50% fib. 5/ high test, followed by inside bar set up, followed by another high test 6/ 50 & 60 EMA's bounce
A PIN BAR HAS FORMED ON THE H4 CHART. STRONG DOWN TREND ON THE DAILY CHART. FALLING TREND LINE TAKE PROFIT IS SET TO HALF MY POSITION AS I THINK THERE COULD BE ROOM FOR POSSIBLE FURTHER DOWNWARD MOVEMENT. STOP WOULD BE MOVED TO BREAK EVEN.
USD/JPY broke above the December 2014 high and closed well below. Recent price action appears to be trending after a consolidation breakout , near 120.40-120.65 , to the upside and break above , also, above the falling trend line drawn over previous highs . A possible retest of this trend line which lies in confluence with the 20 ema , a previous ...
The AUD/JPY daily chart displays consecutive lower highs and lower lows with a potential short setup to continue the visible falling trend (supported also by downward trendline). The current corrective phase seems to be running out of steam in initiation of a potential impulsive phase, with the production of a bearish reversal price bar: - ricocheting off a...
Today's bullish reversal bar has rejected the 50 ema, horizontal support at ~87.55 and trend line demonstrating a bullish rally. Hidden divergence is noted on Stochastic and RSI.
If you don't already know these basic candle patterns it's worth learning them. I have been thinking about doing a short training series on these and potentially doing some simple indicators to identify theses setups. If you'd be interested in learning about these setups hit the "Like" button. In order for this pattern to be a valid sell the three green candles...