it down into a step by step process for you though. This is how markets work, buy and sell orders are grouped together in the same general area and when they are hit we see the impact on price. In fact, for years Forex trading strategy focussed on reversals only. Failed trades happen, there is nothing you can do about them. Below is a candlestick pattern commonly called a spinning top. In fact, those are the only techniques I use to find and trade high probability setups. This is not candlestick analysis, it is pattern recognition. In the image above indecision has formed on resistance after a bullish preceding trend, so we want to enter a short reversal trade. Once price hits these areas you know it is likely to stall or reverse completely. An indecision candle in a bullish preceding trend indicates that buyers are possibly losing control, and sellers may be gaining control.
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An indecision candle indicates only one thing Indecision! A preceding trend can be formed by as little as one candle. Step 2: Identify the highest and lowest bounces in the last year and place an area at each. And your answer is buyers, well perhaps selling is not a great idea. But dont worry, it is easy, all you are doing is placing horizontal lines when you spot an area with two or more bounces. Preceding trends are pretty simple.
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