It’s a buy signal, because [B]potential[/B] strong resistance at R1 failed to stop the price rise. In other words, the upward price move was strong enough to break through resistance at R1. Therefore, this upmove [B]might[/B] have great strength and be tradable.
Candlestick types and patterns have nothing to do with this analysis.
I might go back a reread what they teach about pivots but, Clint is correct also momentum was so strong going into r1 probability was high r1 would be broke regardless of the doji. I would have personally sat out of that due to the fact when price is in R level of pivot I am looking to short not buy. Good job though asking a legit question from the school. You are learning well my friend. Welcome to babypips. Hope to see you in the forums very soon
I looked at it again, and I think there is more to it. I need to go back and study chart patterns again. It reminds me of a chart pattern before the big buy candle. So there was little going on, and it seemed to just be compressing and compressing until too much pressure accumulated, and it just exploded.
Does that seem like a sound theory?
Edit: oh, what i meant by what charts are those, i meant what the name of them is, i could see the 15min on it
Not sure what you mean by the name of them. EUR/USD is called the fiber if that i what you are looking for. Also dont go digging into it to much on other parts of the school to Analise why you would go long or short there. As I said on that chart I would have been looking to sell. Your job right now is to grasp what they are trying to teach you. Once you get that you will figure out what you want as a trader later. Just learn what they are teaching then you can understand deeper concepts better in the long run. In other works dont put the tail before the horse.
Thats much better some of us can not read between the lines (I am one of them). I am not sure what charting software they are using but it does not matter. You can make almost any charting software look like that. Just play around with various demo accounts to find charting programs and trading plattforms you like. Trust me there are many good ones. Alot of scams to (that part comes at the end of the school ;))