Hi Olarion!
First of all, welcome to the thread.
I do not like dojis on speedbumps, it's one of my rules, I avoid them. Why? I've backtested and forward tested them and results are not good.
On speedbumps we want to have tight bases but not dojis, mainly marubozu candles with none or very small shadows. We want at least one tight base candle in the opposite direction of your trade, if you want to short you want a bullish tight base candle (blue or green), opposite for shorts.
I looked at the level and I do have a similar short on EURAUD as well, taking into account the origin of the move on that EURAUD speedbump supply.
Hope that helps Olarion!
Alfonso
First of all, welcome to the thread.
I do not like dojis on speedbumps, it's one of my rules, I avoid them. Why? I've backtested and forward tested them and results are not good.
On speedbumps we want to have tight bases but not dojis, mainly marubozu candles with none or very small shadows. We want at least one tight base candle in the opposite direction of your trade, if you want to short you want a bullish tight base candle (blue or green), opposite for shorts.
I looked at the level and I do have a similar short on EURAUD as well, taking into account the origin of the move on that EURAUD speedbump supply.
Attached Image
Hope that helps Olarion!
Alfonso
DislikedI am planning to scale-in with a speedbump entry on the H4 on EURAUD - drilled down to H1 for smaller SL. Would you consider the small doji speedbump before as a valid one, also? {image}Ignored
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