Look at THAT TOP!! The long legged Doji may as well be a Gravestone / Orphaned Baby. There's a gap just under the daily low and after a 360%+ run from the 25th of June, it's gotta pull back from a $9.98 resistance. I left the Fib overlay intact from yesterday as it snap fits like a glove. Also, just look at the ski tips on those MA's (50/200). I've been watching...
We might finally see this pair drop as well. As you can see, there is a doji candle in the 4hr candle exactly below the resistance. This could be a turning point for GBPAUD.
As long as price hold below 1.8650, we could see GBPAUD going down for a correction.
I will try selling this pair once again.
Sell GBPAUD 1.8630
Stop loss 1.8700
Take profit 1.8420...
SPY Linked below is a diagram pic of the Long-Legged Doji printed today. Initial analysis still stands as of now, but break above the top of doji shadow printed today would put a temporary halt on downward momentum in my opinion. Until then, I will continue to short an rallies daily until my target area is reached or the conditions change. Happy hunting and...
- Breakout of the channel on the H1 showing price structure being taken out and supporting this bullish sentiment.
- Bullish divergence on the H4 using stochastics implying the bearish momentum coming to a halt and that we are in the mist of seeing a reversal after testing the lows of 1.1450.
- Clear rejection of the weekly support level on the D1 with a long...
Long-legged doji is a candle with long upper and lower shadows and a small real body. The pattern shows that there is an indecision between the buyers and the sellers, and that the market is approaching transition period.
Long positions can be taken in case of Bullish Long Legged Doji, once high of the candle is exceeded.
Shorts can be initiated once the low of...
EURUSD closed the weekly candle with a long legged Doji outside the bollinger band.
Not to mention the massive support zone we have around 1.0510.
This could activate a rocket correction from the last 14 days of downtrend.
Another interesting thing is the movement from November 2015.
After weeks of downtrend the price turned in the last November week at 1.0510...
I took almost the high of this potential long legged doji with a Shark113 short @ 2.1000. I consider this level as the higher zone of the PRZ of the bearish crab. I will post another logchart with all my trades within this PRZ of the bear crab.
Thus far, each level of the PRZ has tested:
- XA 1.618% extension / BC 2.618 extension