low-test-bar

JKibbler JKibbler AUDCAD, D, Long ,
AUDCAD: POSSIBLE 4:1 RISK/REWARD ON AUDCAD
72 0 2
AUDCAD, D Long
POSSIBLE 4:1 RISK/REWARD ON AUDCAD

I had this currency pair on my watch list for this week after analysing the WEEKLY chart, and whilst looking through the DAILY time frame I spotted a potential long trade. I spotted a pattern I have just started to test out, you have 3 bars involved. In this instance we see a good pullback to previous structure, the first bar looks like a potential low test bar, ...

amanpaulbhogal amanpaulbhogal AUS200, D, Long ,
AUS200: AUS200/ASX200 long trade
75 0 2
AUS200, D Long
AUS200/ASX200 long trade

With a low test close testing a support area and the ascending trend line, and rejecting the 0.382 Fibonacci level as well as the 50% retracement line, this a long continuation trade with a preliminary target at the next resistance level. Entry above high of low test bar and stop loss below low of low test bar.

Market
Interval
Browse
Time
Author
Widgets
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
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