DislikedRemember, a price reversal bar has not failed UNTIL the OPPOSITE extreme price has been taken out.
For example, the Shooting Star:
This fails when the high price is exceeded. Until it's failed, it's still valid.
This fails when the LOW price is exceeded. Until it's failed, it's still valid.
The Hammer I had on my USDCAD is now a FAILED HAMMER since the low of the Hammer has been taken out.
Breaking of price reversal bars with "thrust" or "momentum" is very good for our trading psychology as it gives us a nice "buzz" or adrenalin...Ignored
You beat me to it Strat - just got back from work having not even looked at the charts/market all day and I'm glad to see the PA on audusd as it adds extra weight to that S/Star in my view. A hammer or star followed by an IB or doji etc makes for a stronger move in my past experience.
I do find nzdusd odd though. Big Boss S/Star - weekly hammer and 3 daily shooting stars! (nearly). I think the weekly hammer can be discounted as it appears that the lower part was all from 1 spike down - this move could have been a possible 'clearing patrol' to clear out the orders for a big move down.
All in all I have 2 orders still live for those 2 and still for the FTSE100 Futures as that S Star on my feed is still valid as is the small dragonfly doji / IB within the S/Star's range.
So, lots of potential still there - 3 orders still in the market - nothing filled today - good show - adds weight to the down move - happy MON-days (all being well , although it's a Bank Holiday over here in the UK on Mon)
Trade less and become more profitable!