FX:EURGBP   Euro Fx/British Pound
30 0 0
EUR/GBP             has now been trading in a 28 pip range for 20 hours. When you have a sequence of candles all confined within the range of the initial candle, this candle is called a Master Candle.
In the example the candle marked is not technically a Master Candle as the next candle pushes half a pip higher than the Master but to all intents and purposes we have a Master Candle setup.

What frequently happens when the range of the Master Candle breaks we see a significant move in the direction of the break.

As we are at WR1 resistance and an area of historical resistance m y guess is we'll head lower but W1 200 sma lies at .7935 so we may head briefly there and then head south.

A break of .7935 would be significant and suggest a move to .8200 area.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out