Practical Exercise #5

[James Dallard]

I have engulfing bar entries on usd/jpy for last 3 day marked. Some follow through, some dont. Looking for buy entries above the DOR and sell entries below the DOR. Not bothered about midnight – 7am myself, but I suppose the DOR is taken as relevant until the next DOR prints.
Same for moving average crossovers usd/jpy.

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[Rich Fitton]

Hi James,

Charts all looking good 🙂

[Martyn Young]

Hi Rich

 

Please find three chart examples

2 x EUR/USD M15 charts – bearish candles below the DOR

1 x EUR/USD M5 chart – EMA cross over entry points

The three examples were from the last three days, when price was below both the MOR & DOR opening ranges and I would have been looking for selling opportunities only

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[Rich Fitton]

Hi Martyn,

Looking good 🙂 The first 15min engulf on 16/11/15 isn’t a ‘textbook’ example, but you can certainly add a bit of artistic interpretation when you start getting in flow with the price action. You don’t need to be too blinkered by the technical definitions of the patterns – it’s what they are showing you about the underlying buying and selling forces that is important.

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