I was with the Sandman at the time, but the candlesticks were trying to send us a message at the peak of the attached chart. EV, you'll do better at the analysis than I, so I thought I'd show it.
Lots of market uncertainty for a bit, but all the signs of a nice reversal. I see dojis and a couple of haramis, right? I see no classic bearish piercing or engulfing candles, but man it dropped. Someone could have made at least 60 PIPs on this slide down. All the way back to the daily low, which had been set earlier in the evening.
Have a good day everyone.
Ed
Ed, you can discount those dojis and haramis. The market is moving sideways at that period, and all that those candles are showing is a lot of indecision. So, what we'd be looking for is a break-out from that range, and that's why I've drawn that green dotted line. It's in a nice clean area, well away from the confusion and I've marked with a magenta tick where I'd have entered. The psych-line and the 1.4235 mid-point would have been ideal targets.
Anyway, just my opinion, mate!
Got out before I lost all profit.
