Daytrader22
Short

Bearish Engulfing Pattern Probable, sell the bounces!

FX:AUDUSD   Australian Dollar/U.S. Dollar
215 5 1
Sell the bounces!

IMO             we have a bearish engulfing pattern playing out.
1. Price couldn't pierce the resistance line
2. Evening star candle in a up trend with progressively lower volume
3. AUD/USD             has been and I believe continues to be a sellers market
4. China's economy is a proxy of AUD and China's eco             data is dovish
The father of candle stick patterns as in Steve Nison?
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dojitrader Daytrader22
Yes, I forgot to include his name
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Toyota to stop manufacturing cars in Australia http://daytradingfutures.net/2014/02/10/toyota-stop-manufacturing-cars-australia-2017/
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I'll ask first. . . '
May I disagree with your candlestick interpretation ?
I use the "Father of Candlesticks" as my guide:
The candle you point to is just a spinning top
such candles are neutral - neither bearish or bullish.
I can go on if you'd like ?
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agreed. my cypher pattern entered at 0.8990 is now in money
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