The Power of Confluence
First off, I'm ashamed I didn't take this trade. I've started analyzing forex pairs in-depth again, but I was a day too late with this one. I finished the Euro and Pound last night/this morning.
This trade combines a slightly off Bat + a symmetrical Crab.
The Bat is literally 8-9 bars out of it's allotted completion time, however, the Crab isn't.
Again, I trade FX solely off my Metatrader platform. I say this because Volume, or Tick Volume, carries quite a significant amount of weight in my strategy, which isn't displayed in this chart.
If Volume were to be seen in this chart, you'd see on July 30th that large amounts of supply were dumped into the market, starting a minor distribution phase. That ended Aug 1st when support broke, leading to the retest and the eventual patterns. I was contemplating entering short on Monday as I glanced at my charts but decided against aimlessly trading without reason. Little did I know this was brewing.
Now that I'm in the full swing of things again, I hope to end these "After the Fact" trades. Hindsight trading doesn't allow one to grow and develop.
This trade combines a slightly off Bat + a symmetrical Crab.
The Bat is literally 8-9 bars out of it's allotted completion time, however, the Crab isn't.
Again, I trade FX solely off my Metatrader platform. I say this because Volume, or Tick Volume, carries quite a significant amount of weight in my strategy, which isn't displayed in this chart.
If Volume were to be seen in this chart, you'd see on July 30th that large amounts of supply were dumped into the market, starting a minor distribution phase. That ended Aug 1st when support broke, leading to the retest and the eventual patterns. I was contemplating entering short on Monday as I glanced at my charts but decided against aimlessly trading without reason. Little did I know this was brewing.
Now that I'm in the full swing of things again, I hope to end these "After the Fact" trades. Hindsight trading doesn't allow one to grow and develop.
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