Looking at a possible big fat W setup on GBPJPY beginning Friday.
LAFF
LAFF
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Dislikedin hindsight, the first leg entry long on EUR/USD at 9:15amEST worked well going into Tuesday, as W-patterns formed on GBP/USD and AUD/USD at same time. Still my same question about when we can take first leg entries ...... if waiting for second leg, then this 9:15amEST entry is missed.Ignored
DislikedHi B, look at the Price Action for most 2nd leg entries - (I still am researching myself) but the action tends to not show 2nd candles that close below the prior low in the case of a short. Thus allowing for a retest of the high. Does it always work no, but is a good insight.
If we look at the Single leg spikes that are in confluence with other factors, they tend to have the candle close below the previous candles low in the case again of a Short.
So I would say look for a candle cloes of at least a few pips and a common...Ignored
Dislikedbut the action tends to not (??) show 2nd candles that close below the prior low in the case of a short (??). Thus allowing for a retest of the high (??).
Thoughts?Ignored