GBPJPY showed a bull flag that built up over the last several hours. The breakout was a fundamental event by BoE's Carney which led to this massive move in Geppy.
During an incredibly slow Asian session I was fortunate enough to find this little nugget. A nice short entry off a lower high at the weekly high. Inside bar on the 5m chart was my signal. Price sat there not moving for nearly three minutes then dropped very quickly.
FXWords.com has a great couple of pages on candlestick patterns. Their examples don't just show the pattern, but also show a series of candles before and after the pattern to help visualize just what you may see.
The session got off to a roaring start today and didn't let up. Cable and Geppy both plowed lower from the opening bell in New Zealand. I didn't find much opportunity from a couple of hours before the London open through the lunch hour. I managed to scalp off about 25 pips on trades I thought had a decent chance of turning into a retracement moves on cable. No go. I've been concentrating on cable as my main focus lately. It might do me well to head back over to the geppy camp. It's been running pretty nice the last few sessions. I'll be keeping a closer eye on it this week. It's looking like the GM news of the Obama Administration rejecting their latest plan, yet offering more cash for restructuring(though not through bankruptcy) will take it's toll on the U.S. market Monday morning. Futures are already in substantial negative territory. There is a long shot outlook that the market could view it as a positive in that possibly more of the deadwood that's ...
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