Disliked{quote} Yonnie or any one else... why will the previous candle be defined to have momentum upwards in comparison with its preceding candle downwards? Does momentum only counts for upwards? Thanks in advanceIgnored
the preceding candle had good momentum too and had a nice closing finish near the low.
however, we don't take that trade, because its right in the resistance area from 4 candles in August.
the previous candle has even more momentum - see how its going down to about 1.0810 and then shoots up all the way to around 1.0918 and practically ends on the day`s high.
wow, day`s range of 108 pips for E/CH!