Daily Candle | Forex Factory

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Daily Candle

  • #1
  • First Post: May 7, 2010 3:34am May 7, 2010 3:34am
When using a daily candle for direction would a drop below it's mid point reading indicate an opportunity to short that pair? I'm using 30m candle for trading. Usually I only trade the direction of the daily candle.
  • #2
  • May 7, 2010 12:56pm May 7, 2010 12:56pm
I would look for going long at this point.
The more experience the closer to the reality
  • #3
  • Last Post: May 7, 2010 1:58pm May 7, 2010 1:58pm
Current daily candles shows a bullish inside bar. The problem with inside bar candlestick signals is it lets us now price may be trend turning but will not give us a direction. I've seen many bullish inside bars go bear and many bearish inside bars go bull. I wouldn't follow this signal just yet. Let Sunday develop and afterwards trade the next business day candle.
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