Exercise 6:


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  • #1820
    Gustaf ErikssonGustaf Eriksson
    Participant

    AUD/USD 15 mins chart. Comments are on chart. In addition there are a couple of other opportunities not marked – a “buy” @ 2.45 which would have given a profit, another “buy” @ 16.45 which would have resulted in a loss.

    Interesting exercise! At 22.45 there’s an “almost” engulfing entry for a “sell”, which would have given a profit, but as far as I can see the 2nd red candle is not quite engulfing the first, smaller, one.

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    #1823
    Rich FittonRich Fitton
    Keymaster

    Hi Gustaf,

    Yes, this is an interesting one. I’ve sketched in a shallow ascending channel that you can see contains the 15m price action. If you’d stayed away from the first signal (yellow shading) you had a second confirming signal (blue box) as the sellers dropped it out of the channel.

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