Bears bearing down again. Targets are the fibs, you choose. Early entry can be a long candle or a 10 period moving average crossover in 4H Time frame.
The reason I'm entering short despite the return of price in the big trendline:The little diagonal blue trendline to the far right which is a basis for zigzag corrective patterns.
Disclaimer for beginners: Don't think that all long candles or moving average cross overs will get you pips. Sorry, it's really not that simple guys...
cancelling trade idea. No big red candle just a big green candle..... ;-/ back to the drawing board.
I guarantee NOTHING
Update 7/20/15 Closed my position for a small profit since it's less than 50 pips. This doesn't mean I'm changing my bias. I am just looking for another wide long red candle as confirmation in the 4H. I feel no rush to trade this one because if big candles show up, the TP is big. 7/21/15 Cancelling trade idea. No big red candle just a big green candle..... ;-/ back to the drawing board.
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