FX:AUDUSD   Australian Dollar/U.S. Dollar
Waiting for clear bearish engulfing candle (best when wick also engulfed) and after 1st bearish candle close wait for confirmation with next candle (down wick of 1st bearish engulfed with 2nd bearish ) and that's good sign to go short. Take profit on support line (I think it will be also in dynamic support/resistance zone - between 30 and 50 simple moving average ). R:R=~2 or better.
nice job!
thanks... I think that it was predictable, but (as always) only under significant circumstances...
jvgelio theinvestbay
your setup is only these two MAs?
if you want to know the truth and see what i see - you don't need these MAs... only naked chart, watching price movements and dependences between groups of candles is all that you need... sometimes I add MA or MAs just to better illustrate example... forget about indicators and imagine that this graph is a snake... I will say more :) that snake always want to break through our "MA", but you don't have to see that "MA" drawn on chart, you must try to see "virtual-MA" in your head, because every strategy with 1 MA or 2 MAs or 3, 5, 7...100... MAs will fail... you must believe that only your "virtual-MA" will work :)
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