As you'll see when you wait for the right set ups (in this case following the 1 hr and 15 min) these 5 min lh's had little/no lower wicks suggesting likely falls in direction of move down.
Price halted at the low of 12 Nov.
Tuesday, November 16, 2010
Todays trades
The trading pre UK news 9.30 gmt did not offer good set ups for us. After the news the move up quickly struggled. A classic 15 min shooting star was followed up by a perfect 5 min lh. Price moved below the multi time frame ma (set to equal the 1 hr 8 lwma). We then had 2 perfect lh's.
As you'll see when you wait for the right set ups (in this case following the 1 hr and 15 min) these 5 min lh's had little/no lower wicks suggesting likely falls in direction of move down.
Price halted at the low of 12 Nov.
As you'll see when you wait for the right set ups (in this case following the 1 hr and 15 min) these 5 min lh's had little/no lower wicks suggesting likely falls in direction of move down.
Price halted at the low of 12 Nov.
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