Bullish continuation trend failure Bearish pin bar and morning star candle patterns Price returning into range box Profit Targets are resistance and whole number levels
I understand the Bearish Pin Bar.
Do you need anything else to confirm the reversal or are you just going on the Bearish Pin Bar?
How did you determine the Targets?
Thank you for the post!
JW
Tradingstrategyguides
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@jwboing, My first target was a resistance level at the begining of the 1st red line. My second target was a whole number at 7550.00000 (on chart showed as 7549.0 sorry). I used the pin bar and a close of the morning star 3 candle pattern which didn't close below the range top. It left a bearish wick inside the range box so I wouldn't have entered. I then would have used a sell stop below that wick which also never happened. This all protects against fake outs. Now price has continued bullish for awhile.
fib retracement and elliot wave confirms this, but dont take my word for it. I react not predict.
Tradingstrategyguides
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Share with us how you would be trading this pair. Leave a comment below.
fineregex
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@Tradingstrategyguides, explain why it is failing? wasnt such a big retracement. I agree its silly to pump but doesnt it look like a lot of upside with little retracement