We are currently short with our stop and reverse at 1.7268. Here is where I get confused:
There are two long down candles that helped our short, the second being the current setup bar. The two bars after that, as of this writing (20:00 and 00:00 Alpari Time), have higher lows, thus could be reversal bars. If one of those bars had a lower low instead, would they be new setup bars replacing the last down candle, or do we have to wait two bars no matter what?
Thanks for your patience,
Michael
There are two long down candles that helped our short, the second being the current setup bar. The two bars after that, as of this writing (20:00 and 00:00 Alpari Time), have higher lows, thus could be reversal bars. If one of those bars had a lower low instead, would they be new setup bars replacing the last down candle, or do we have to wait two bars no matter what?
Thanks for your patience,
Michael