Its been a nice Journey since I decide to put up this blog to help novice and new traders and even for experience traders. But some questions always do arise in trader's mind that what to do in the spare time or at the weekends when there is nothing to do.
Some traders prefer to spend time with the family, Other prepare their journals and most of the traders prefer to keep looking at historical price movements on Monthly and Daily charts for the possible setups.
I always mention on my blog that price turns and continuation is decided not in advance as most of them are decide as per sessions on Intraday basis till we have some strong holders keep moving the market for a week or for a month by most. Other trends built up take months to decide and still without the help of others no one can built trends for years or even decades and Price will keep facing challenges when strong trends tend to reverse or shortlived after strong run.
I am putting up lot of efforts as I prefer to stay in a trade for a day or two by most and won't enter until I get a strong confirmation of continuation because after a run there surely would be few sessions of consolidation or sideways movement and price take a pause before another run upfront.
As such it is not wise decision to line up pair which is trending to go and buy and sell immediately and one such example is the chart I am going to show in my upcoming posts.
This is a chart of sterling with possible turns with changes in momentum after the weeks starts before it shows strong run and reverse when the week start, which is in itself a strong statement that price turns are natural and Nobody controls the price no matter whether they have bundles of potential untill they got support from other holders.
Gbp/usd Reversals and Continuations
Most of you would think what is the reason of showing this type of values on chart, So defining conclusion is that whether we trust any historical chart or not, Most of the patterns give you returns as such only 15% of the candlesticks patterns do offer you strong reversals or complete reversals, So how wise is to test those patterns and continuation signals when the trading week sums up.
I would put up few more charts where you can decide in advance how to spot up behavior of strong money prior to price gets there but It should be part of strong imbalance and this area should have been development area of test once. It is just a matter to see whether to count a breakout is strong and has continuation power or it is just fakeout.
Stay tuned for another chart that offers you substantial return and activity is spoted and synchronize on every time frame.
