DislikedMy first post here on the thread. Have decided to read the whole thread, up to pg 150 still long way to go. Man this is gonna take a whole. Hopefully it pays off.I seriously need to get PA embedded into my brain.
Attached are a few setups for Mon.
With EUR/USD we do have had significant bullish momentum and the V formation as discussed, but there is also significant confluence. Still requires confirmation for entry. Mike what would you rate this setup??
Attachment
Similar setup on EUR/CAD, Mike just wondering why the RN is so important...Ignored
Welcome bud glad to see you posting. Keep going through the thread slow things get brighter slowly .
Here would be my thoughts on both charts. Again always remember this doesn't make your analysis less valid just how I have put the pieces together.
Eur/usd - a neutral bar more then a pinbar. Notice that the wicks have about equal length and the open and close are near the middle. This to me doesn't give direction as much as indecision. I would stay far away from this one from the daily bar friday.
eur/cad - looks like your broker closed a bit early(some close earlier on fridays but the market is still open since it is a 24/7 market). Price didn't close as a pin(see my chart). If it did close as yours shown my advice would still be the same. Price barely closed within the prior bar and it is coming off a very strong bullish bar. To me not enough strength there to short. We had a sharp run down followed by a sharp run up. So I wouldn't want to be shorting back into that.
Both nearly formed buobs on the weekly so I will stand aside and see what next week brings
Again welcome hope this helps
Mike