IF THERE IS A PATTERN YOU TRADE. THIS IS IT.
AN INSIDE BAR FOLLOWED BY A PIN BAR, AKA FAKEY SIGNAL.
PRICE PRETENDS TO BREAK OUT OF MOTHER BAR AND SWIFTLY CLOSE BACK INSIDE THE MOTHER BAR TO TRAP ALL BULLS.
NOTE THE 30 PIPS PIN BAR IS FAKING 91.00 TOO.
SELL WHEN PRICE MOVES BELOW THE MOTHER BAR.
THAT'S WHERE ALL THE TRAPPED BULLS'S PUT THEIR STOP LOSS.
NOTE:
TRADE INVALID IF PRICE CLOSE ABOVE 91.
NZD IS OVEREXTENDED IN MY OPINION CONSIDERING HOW EUR GBP ARE WEAK/WEAKENING IN CORRELATION PERSPECTIVE.
MY PREVIOUS IDEA SHOWED DOUBLE TOP BUT UNEXPECTEDLY IT MANAGED TO PUSH ABOVE IT.
IT COULD BE A "LAST PUSH".
I ALREADY SOLD IT @ 90.9.
MY EXPERIENCE WITH THIS PATTERN TELLS ME THAT IT IS MORE OFTEN RIGHT THAN WRONG.
KEEP YOUR STOP AT 91.12 STRICTLY.
AN INSIDE BAR FOLLOWED BY A PIN BAR, AKA FAKEY SIGNAL.
PRICE PRETENDS TO BREAK OUT OF MOTHER BAR AND SWIFTLY CLOSE BACK INSIDE THE MOTHER BAR TO TRAP ALL BULLS.
NOTE THE 30 PIPS PIN BAR IS FAKING 91.00 TOO.
SELL WHEN PRICE MOVES BELOW THE MOTHER BAR.
THAT'S WHERE ALL THE TRAPPED BULLS'S PUT THEIR STOP LOSS.
NOTE:
TRADE INVALID IF PRICE CLOSE ABOVE 91.
NZD IS OVEREXTENDED IN MY OPINION CONSIDERING HOW EUR GBP ARE WEAK/WEAKENING IN CORRELATION PERSPECTIVE.
MY PREVIOUS IDEA SHOWED DOUBLE TOP BUT UNEXPECTEDLY IT MANAGED TO PUSH ABOVE IT.
IT COULD BE A "LAST PUSH".
I ALREADY SOLD IT @ 90.9.
MY EXPERIENCE WITH THIS PATTERN TELLS ME THAT IT IS MORE OFTEN RIGHT THAN WRONG.
KEEP YOUR STOP AT 91.12 STRICTLY.
