Disliked{quote} Hey Direwolf, you are panupat from babypips and fso right? The reason I am asking is because your pic is the same as panupat on price action that matters and you mentioned this thread on that thread when i asked for it (I am aujla from babypips) Could you please tell me your reasoning for the NZD short you just took. I can see its against a strong up trend. Did you take it because the red candle closed below the low of the previous blue candle? ThanksIgnored
There are couple things. If you look in the red box you'll see 2 bearish candle with wicks on top, showing rejection to go higher. The 2 together created a double top and the second one is also almost a BEEB. The pair also shows divergence on both RSI and TDI (not surprising I guess since TDI is calculated from RSI.)
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The level isn't too bad, too. Tho I didn't consider this factor much.
I'm hoping the price would be able to reach 0.8500 (the dotted line) which would give me roughly 3RR
Everything you can imagine, is real - Pablo Picasso