I am seeing a trade setting up based upon my parameters. If you click on the chart to the right, it will enlarge it and shows my set up.
Here is how the pair is setting up to meet my conditions:
1. The 4 hour chart shows the pair to be in a downtrend based upon the candlesticks in red. (I changed to chart to show a downtrend while by changing the candlesticks red.)
2. The stochastics are near the overbought region and have rolled over with the %K now being lower than the %D.
This trade ended up a complete failure. This means that I have to start stage 5 all over.
Wednesday, May 26, 2010
TRADE #4. STAGE 5. SHORT USDJPY
I am seeing a trade setting up based upon my parameters. If you click on the chart to the right, it will enlarge it and shows my set up.
Here is how the pair is setting up to meet my conditions:
1. The 4 hour chart shows the pair to be in a downtrend based upon the candlesticks in red. (I changed to chart to show a downtrend while by changing the candlesticks red.)
2. The stochastics are near the overbought region and have rolled over with the %K now being lower than the %D.
This trade ended up a complete failure. This means that I have to start stage 5 all over.
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