OANDA:GBPUSD   British Pound / U.S. Dollar
Rejection from daily trend line and monthly resistance with bearish engulfing candlestick .
Target = 1.27500
Stop Loss = 1.29540
Trade closed: stop reached: on to the next one

Comments

Jk Good Stuff
+2 Reply
shit
+2 Reply
thats an inside bar, not an engulfing bar
+1 Reply
calwill95 Stefanrose
@Stefanrose, I think you'll find it is an engulfing candlestick my friend.
Reply
Stefanrose calwill95
@calwill95, not in my book its not. The entire second candle is within the range of the first, makin it an 'inside' bar, hence the name. To be an engulfing candle it should close below the low/high of the previous candle. Using a close below the previous close to quantify an engulfing candle leaves it open to interpretation which leads to conflicting signals.
Reply
calwill95 Stefanrose
@Stefanrose, simplicity is key my friend, I suggest you invest in the astro fx course.
Reply
Stefanrose calwill95
@calwill95, exactly, which is why you shouldnt have rules for a candlestick pattern that conflict with another candlestick pattern.. ill stick to my FXCartel strategies anyway, just thought i'd point out the error.
Reply
This is what happens when you trade an inside bar in an uptrend as an bearish engulfing bar. Just saying.
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