After all the events last week, there’s one stand-out pattern on the charts that tells me all I need to know
Sometimes, being away from markets and missing big events can do us the world of good. Instead of being immersed in the minute by minute, hour by hour noise as they happen, you get to look back with fresh eyes and can take time to review what’s happened with a clear mind not clogged up with the minutiae of it all.
So what do you think struck me the most when looking at the charts today, following the moves last week?
Here’s three charts. Have a look and let me know what you see in the price action. It’s something I’ve spoken about many times before and it’s a pattern I’m often very keen to trade.
EURUSD daily chart
AUDUSD H4 chart
GBPUSD H4 chart
Give me your thoughts about the pattern I’m seeing and why it is important in the comments below and I’ll do a follow up post shortly. This is something we have discussed earlier in our trading room so I’d ask those folks to refrain from tipping the nod straight away.
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
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Oo Oo … please Sir ✋
Haha. No wait your turn.
https://uploads.disquscdn.com/images/13e7a1a1c1f0adacd3f4e987ec2a1f3e74a6d13899834fb1e9629710b41aed5c.png
didnt clear the previous lows, setting up for consolidation/rebound. does a dead cat bounce more than once?
DXY at 95 as well, hoping for a dead cat bounce
Pls enlightened … to me it looks like a temporarily bottom ready to rebound with that bounce is a set up for a fierce downside…
all took out the weak lows and the last highs but all created a higher low
Fresh low created, retraces, comes back to the low but doesn’t break? I am on the edge of my seat for the answer…