FOREX Trading Review Video 10 JUN 09 EUR/USD Bearish Engulfing Shooting Star

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Uploaded by on Jun 11, 2009

http://www.fxtrainingzone.com :: EUR/USD I see the short term trend as down, therefore class this as a Trend Continuation trade based on:

- Bearish englufing shotting star formation close on the 4H, failing to close above the 50% retracement line (from daily timeframe - shown in yellow on chart image).
- Price action failed to close above the 1.4117 level together with candles showing a lack of upward momentum.
- Price has now placed in a lower high on the 4H something which it has not done in some time.
- 8EMA failed to take control on the 1D, therefore shows that the strong bearish candle on (05/06/09) is still in control and therefore we can expect a bigger retrace than 23.6 from the larger upmove. (will explain this on the video)

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Uploader Comments (sionsmith)

  • What do you mean blue doji?

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All Comments (13)

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  • What indicators do you use?

  • What indicators do you use?

  • good stuff!

  • great video, keep um coming

  • Thanks for greta video. Very informative.

    Pls, keep good work.

    Cheers

  • sionsmith,

    thank you for great explanation of the system in your videos, it helps me a lot.

    Also it would be helpful if you publish your loosing trades and how you decide to exit your lossing position.

    thank you beforehand.

  • Another informative video,

    Great job

    Spike

  • Hey, how do you make those doji appear blue? :)

    P.S.: looking forward to that MM vid!

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