Announcements
This site is currently inactive as I have decided to move away from exclusively trading Forex in 2010 and as such will not be taking on new coaching clients in this area.
I have resumed my focus on coaching as a stock market mentor where I run a success guaranteed stock trading mentorship program
Additionally, you can now get access to what I consider to be the best stock options daily trade alert service.
Of course, I am biased and with a success rate fluctuating between 68.2% and 72.4% it is hard not to be biased.
If you do want to follow along with what I am doing every day you can get access to my daily stock market report
You can read the step-by-step Bollinger Band Trading Strategy Guide - this is my main active trading strategy
Until next time
happy trading
What price is doing?
Hello Phil,
I'm trying to understand the price action on the attached chart (AUDUSD 4H, Alpari UK). The first question, as you say, is: "what price is doing?". Even ignoring the last candle which has not closed yet, I'm not able to get a directional bias from the chart.
Could you please take a look at the following 2 questions and tell me what do you think?
- is my sequence HL>HH>LL>LH correct?
- if the sequence is correct, what can we say about our bias?
Thanks much
edited to add image - copy the link location that you just attached, click the little tree icon middle row on the left to insert image, paste then click insert - Phil N
| Attachment | Size |
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| audusd.gif | 59.02 KB |
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