Today is a relentless down trend. All buy signals have been poor , trapping in bulls and failing with stops being constantly hit. We finally get a strong bull candle slowly leading to a break of the final down channel line. By that time we had one lower time frame High -H1- which broke the bottom of that bull candle producing a trough - L1- then a rise to a second peak  -H2 - but we initially don't get a trough, it pauses and then rises still remaining a H2.  Price then brushes the 20MA where institutional algos have been waiting to pounce with such ferocity price does not even touch it properly and the candle engulfs down over the doji at the same time as breaking a mini trend line in a Low 2 short engulfing  off the 20MA breaking a mini trend line, a failed break of the channel line, AND a perfect measured move from the initial green trend candle leaving out the wick. That's 6 hard signs for the trade and no contra signs. Entry was 1 pip below the doji. This short led to a net 8% increase in equity with an initial explosive drop clipping a take profit target before I had time to move it.

Classical Al Brooks price action at its best.

Views: 75


You need to be a member of Forex Social Network to add comments!


© 2019   Created by FXStreet.   Powered by

Badges  |  Report an Issue  |  Terms of Service


Live Video