green candle printed a 2 pip lower low then the 3 red small candles before it. The high price of the green candle was below the high price of the 3 red candles before it. the last big green candle , the long one got a good kicking from the bulls. The open of the red candle my entry opened low, therefore at least i could make 10 pips to the bottom of the tail to the left. All Moving averages pointing down…price needs to complete the channel line one way or another, i bet for touch of the lower channel. Last up trend was from the lower channel to the upper and was kicked hard and fast from the 200 sma…all candles are nice and small which foresees a take of or consolidation. chart pattern head and shoulders i sold the formation of the right shoulder
no,under normal circumstances yes…but as i have posted i am bullish on usd cad. The currency has been trading below the 200 sma for weeks and needs to move up say 300 pips to complete its bullish run and any downtrend to the 200 is for no other reason then that there are to many buyers. few sellers so market taking out stops . remember the one about the truck going up the hill? To short cad right now, would be tight stop in and out for 20 pips…long is safer…
C, i hope that explains it, but a short on the 20 is perfect however CAD is over valued , its trying to long, its a bit rich over valued…needs to go long I am bullish on CAD hav been for weeks
C …summary your entries are spot on the money…can you let me know how you did? did you bag pips?
yes perfect short, when you have green and red candles put them toghther like a banana shape , price will drop like a rocket short just target a reasonable support. if the support cant brake then expect a test of the 200, price cycles
sorry to everyone i am not giving lots of charts today with feedback…Today i been fixing my motor bike and not been feeling so well…but i really appreciate that you are hanging in there and learning , its not easy but if you stay with it it will all come together…I hope your all doing some good pips today, your charts have been perfect…
everyone help each other…all the answers and questions are correct, i will step in if not correct…your both getting the concept…Well done C well done Skuldz
yes thats right, HRC is honda racing the bike is a CBR1000rr C-ABS,
everyone please go back and read this thread number again…#82 its about understanding the markets, its very important to this whole set-up…its a big edge
C your bang on the money…cad looks like it will complete the run to the 200…i am bias on my view of CAD. But if you traded your view you would have bagged a S load of pips…well done girl …shinning , everyone is getting it and putting it to good use…great, you right me wrong , well done