1. Stopping volume: The previous bar is a down bar closing at the lows of the bar with high volume, what this means? possible selling, but, look how the next bar respons, high spread bar, closing at or near the highs with greater volume, so, if the previous bar was a weak bar, why the market didnt go down? The next bar is a up bar with not excesive volume, so, it...
This is a scalp trade
not the best but i chance to catch a quick 50 pips
-Price has come to key area of 130.00
-Price has bounced of with two bearish candles
-Price will need to make a move lower before any bullish movement
-A small correction is needed
A few more reasons to but not worth me going into detail :)
Enjoy trade safe
Not a set up with a ton of confluences but some. Im going to go with the over all trend here and say that this chart is trying to for a wedge pattern. Like I said, not the strongest trade set up but im going to open a small position on this one.
*SCALP STRATEGY FOR EUR/USD BEFORE CONSUMER PRICE INDEX*
- needs to brake resistance at 1.1045 for a possible long
- T/P 1.805 ( Resistance Level )
- However will pull out if price action dictates consolidation or uncertainty.
- Watch if price stays within the turquoise consolidation zone
- Look for strong candlesticks
This is how I scalp EUR/USD. It is meant to be used when Australia is in nocturnal state.
You need to merge EUR/AUD and AUD/USD with EUR/USD and watch for a sharp spike (up or down) in EUR/USD.
If the same spike occurs on EUR/AUD without occurring on AUD/USD (or vice versa) then in most cases it suggests that either EUR or USD is spiking alone and the chance of...