Candlestick Pattern On GBP/USD? | Forex Factory

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Candlestick Pattern On GBP/USD?

  • #1
  • First Post: Apr 23, 2013 3:39pm Apr 23, 2013 3:39pm
Hi,

Can anyone explain this type of price action pattern I see this time and time again but I cant understand if its a continuation or a reversal I guess it depends on what wave your in.
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  • #2
  • Apr 23, 2013 4:12pm Apr 23, 2013 4:12pm
Quoting Pipanator
Hi, Can anyone explain this type of price action pattern I see this time and time again but I cant understand if its a continuation or a reversal I guess it depends on what wave your in. {image}
This is a very key pattern all who study Wide Range Body (or Bar) Analysis would understand, if they have read chapter 4. Unfortunately, WRB Analysis is something people pay for (Chapters 1-3 are free), so I can not say much about this out of respect for them.

But I will give a couple of hints:

1. WRB Analysis not only measures changes in supply and demand, but volatility also.

2. Not all volatility spikes are volatility breakouts.

3. This is a volatility breakout.........
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  • #3
  • Apr 25, 2013 11:02am Apr 25, 2013 11:02am
So, I guess this could be said to be a sustained move to the downside or upside if reverse pattern in the correct wave sequence using Elliott? I once heard a trader who said you want to see small broken open and closes bit by bit rather than 2-4 WRBars as they are more prone to reverse 120%.
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  • #4
  • Apr 26, 2013 11:45am Apr 26, 2013 11:45am
Which is similar to three black crows....with breaking minor support.
  • #5
  • Apr 27, 2013 10:49am Apr 27, 2013 10:49am
Quoting HiddenGap
{quote} This is a very key pattern all who study Wide Range Body (or Bar) Analysis would understand, if they have read chapter 4. Unfortunately, WRB Analysis is something people pay for (Chapters 1-3 are free), so I can not say much about this out of respect for them. But I will give a couple of hints: 1. WRB Analysis not only measures changes in supply and demand, but volatility also. 2. Not all volatility spikes are volatility breakouts. 3. This is a volatility breakout......... {image}
Where can I find this book where Chapters 1-3 are free and Chapter 4 for people who pays?

Quoting Pipanator
So, I guess this could be said to be a sustained move to the downside or upside if reverse pattern in the correct wave sequence using Elliott? I once heard a trader who said you want to see small broken open and closes bit by bit rather than 2-4 WRBars as they are more prone to reverse 120%.
What do you mean by reverse pattern in the correct wave sequence?
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  • #6
  • Last Post: Apr 28, 2013 1:15pm Apr 28, 2013 1:15pm
Quoting mmaker
{quote} Where can I find this book where Chapters 1-3 are free and Chapter 4 for people who pays?

Here, I think.
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