UJ Drop Signal. Stop Hunt or Gap Fill?
Recognising a pattern we have seen before early December '17, I immediately assumed it was another stop hunt. However, now armed with more knowledge and experience I forced myself to take an objective stance.
That Lama signal is my joke. I remember seeing that a few times in December and later, it sometimes looks more like a short legged and long bodied dog like the Dachshund. I'll be interested in learning if there is an official name for this pattern and how its PA can be explained. To get a clear view of it please switch to 5m for this range, which I could not publish because of the restrictions of the Ideas feature for low timeframes.
Taking an objective stance I now consider all options until I have proof for one of the answers. It could be that the start of the stop hunt is just a legit drop and wasn't artificially created by an algo and that it was created by weak shorts. Similar for the whipsaw patterns and other fake drops. The quest for the truth behind Forex continues...
Looks like we have reentered the channel coming from the right shoulder so get ready to trade UJ short from the sweet spot. Good luck!
Cheers,
Arnaud
That Lama signal is my joke. I remember seeing that a few times in December and later, it sometimes looks more like a short legged and long bodied dog like the Dachshund. I'll be interested in learning if there is an official name for this pattern and how its PA can be explained. To get a clear view of it please switch to 5m for this range, which I could not publish because of the restrictions of the Ideas feature for low timeframes.
Taking an objective stance I now consider all options until I have proof for one of the answers. It could be that the start of the stop hunt is just a legit drop and wasn't artificially created by an algo and that it was created by weak shorts. Similar for the whipsaw patterns and other fake drops. The quest for the truth behind Forex continues...
Looks like we have reentered the channel coming from the right shoulder so get ready to trade UJ short from the sweet spot. Good luck!
Cheers,
Arnaud
Trade ativo:
Back in the channel a good price to enter the trade
Trade ativo:
Another bunch of signals confirming that the drop has started. Follow related ifeas for more info on the subject
