15-minute chart

Fading after Rejection Bar Formation on GBPUSD

  • Posted on: 21 June 2015
  • By: strategist
Fading after Rejection Bar Formation on GBPUSD

Three bars with huge bearish wicks appeared on June 19 2015 after a rally. This signified that the pair had hit a strong rejection/resistance area. I shorted aggressively for this being a very strong short signal. Took quick 6-7 pips but the trade was good for a lot more. However, there was definitely a cluster to the left (not shown on screenshot) and I had to be conservative with the T/P.

As always, trades like this one require a lot of experience and a good ECN broker.

Candlestick Formation Scalp on EURGBP

  • Posted on: 21 June 2015
  • By: strategist
Candlestick Formation Scalp on EURGBP

At 9:00 AM EST on June 19, 2015 a pin bar appeared at the low boundary of a range on EURGBP. The pair had been moving in a tight range for the previous few hours. I executed an immediate long order when the next bar passed the high of the signal pin bar. I placed the T/P conservatively a little below the close of the previous bar formation near the upper boundary of the range for a 8-9 pip profit.