5 features that make a bearish reversal in this EURJPY example. Explained also are 4 different entry levels for traders who demand different levels of risk/ different confirmation.
Either it is human nature or a grand plan put in place by Aliens/Masters of the Universe, markets end up repeating the same price action. If you can see it repeating, master it, then wealth and success that comes with it will open it’s doors to you. HSI prints a price pattern that has all elements of a trade signal. I talk about the pattern & trading psychology essential to take advantage of such setup.
Everything looks good from the candlesticks and price point of view until you overlay the Dow Jones Industrial Average (and the Fed’s rhetoric) into the picture.
Log-in required post for Tflow® Forex Course participants. I look at recent 1-2-3-4 setups in AUDUSD and EURUSD to supplement a video I made on this topic.
There is no single ‘most important’ fibonacci retracement level. Rather which level comes to the fore has to do with timing and can only be confirmed by observing price action. However some fib levels have more meaning than others.