Yes most of the time it’s Rejection Candles because they are the most common signal that forms are are also the most powerful.
I just noticed forgot to post this Bearish Rejection Candle setup here from last week…
Thanx DnB. Your spotted pair G/J is in action now. I got 31 pips and exit
I’ve been in this since friday. There is some decent downside potential. What concerns me though is that GBPUSD is at support.
I try not to cross analyze charts like that, I treat each chart as it’s own and don’t let the others influence me. GBPUSD might be on support, but what about USDJPY it’s currently approaching resistance. I think that cross referencing charts like that can kick up un wanted emotional responses and stress.
Hi, DnB…
I am a begginer in forex, and I read your article in here, But I still confuse about Place Entry and Place Stoploss… may you explain about it ?
Thanks before, from INA
Thank you DnB, I am understand with the picture… I must be more learn in your article, by the way I see your website too…
I just checked the charts at the New York close this morning,
my face when GBPJPY…
Man I hate it when this happens lol, this is the risk of trading in sideways markets thought…
There is a few upper tails on the 4 hour candles, resistance may hold and there is still a chance price may sell off here, but after yesterday’s close I am skeptical.
You’re right it’s probably better that way. I did stay in this trade but almost 99% sure I’ll be tagged today.
I’ve had trades come within 1 pip of my stop loss and then take off to hit 1:3, so I just leave them. This could just be another test of resistance, it does happen from time to time and will look like a double top on the smaller time frames if resistance holds.
There is a nice pinbar on GBP/CAD. Any comments about it DnB ??
Nice signal,
GBPCAD is a fairly choppy market, sometimes there are some explosive moves on there but looking back through the recent history it can whip around a fair bit.
Been long time since i’ve posted n here.
Did anyone notice the GU chart ? Price ready to shoot down ?
If breaks the lower (support) then some down movement seen I think. Wait for London session
I know GBPCAD is very choppy, but how low do you think this pair will go? right now Res is around 1.5790
I’ll be pointing my tp for 1.55.
Good luck on the trade
Its heading lower after that daily rejection at resistance, probably will test the next support down @ 1.5610.
Anyone else in GU short trade ??
Yes im short at 1.5986 looking for TP at 1.5916
