FX:AUDCHF   Australian Dollar / Swiss Franc
221 8 3
update: trade not filled/no buy signal

not yet in trade, waiting for bull signal in 1/4h.
Piercing pattern created on previous resistance, close below shadows will invalidate this pattern.
30 min
itaskar itaskar
no signals yet, price went thru
Great you waited for confirmation mate. Good luck
+1 Reply
Technician Technician
We have a similar approach
itaskar Technician
Hi Technician, are you using for confirmations only 240s(daily trade) or you're looking for reversing patterns in lower time frames as well? // Iam not working long with candles, before I was working mostly with bar charts and median line analisis, but I never knew whats going on when price reached certain line, so I started to study candles which can talk. //
Mate, It depends on the type of the setup, and how much confluence and conviction i have about it, sometimes i dont wait for confirmation. For example, if the price is retesting a major horizontal support level and a rising trend line and forms a hammer on the daily, then the hammer is my confirmation i go long without any further confirmation.

Now, if the price forms a hammer candle on a minor support, then i might wait for more confirmation through the four-hour chart, where i will look for long-lower shadows candles(hammer,long-legge doji,etc..)

So there is some sort of subjectivity.
+1 Reply
itaskar Technician
alright, understand, cheers pal
AndreLewis itaskar
I would stay stay short, this is going 50 more pips down.
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