i put a long position on this one. just need one breakout from the current position. interesting to know whats gonna happen. will see
nelsyboy
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I shorted just before the close on Friday evening. Reason being, movement of 7 up, 8 down, 7 up, 8 down and finally 7 up. I trade with IG and they have a small window on Sundays so that is different to tradingview which is only a 5 day week. But still, the pattern is the same. I am still in short and hope move will continue down for this week with maybe a small breather or retrace in between. However, I do have a little doubt because the recent 7day move up covered the same amount of pips one day quicker than the move down. Thereby possibly implying more bullishness. However, dollar appears to be trading stronger in most pairs excluding JPY at the moment. I always look at each starting price for each BUY candle where the price may get stuck at on the way down. Therefore the starting price from 30th April or even the day before. They are both important candles because of the amount of ground they covered in a day. You may already have guessed, I only trade DAILY patterns.
PeterHedger3
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@nelsyboy, Very interesting. The daily charts have the most respected patterns :)