Notes

Forex Trading - My Day Trading Thoughts
Bullish indicators are when DMI+ crosses below DMI-, and the ADX moves through the space in between the DMI lines. It may be that the ADX is already above both DMI lines and moves up, showing strength, but I tend to wait for a movement up through into the gap (also referred to as the zone) and going in an upward direction. If the DMI+ crosses over DMI+ and the ADX is moving up into the gap in an ascending motion, it's a bearish indicator. I would place trades. The ADX moving up from a low and crossing into the gap in an upward movement shows growing strength and I have found this to be a reliable indicator for the trend to develop.

The seller has increased the price for AUD to a point that buyers simply aren't willing to pay more.The buyers stop buying AUD as a whole. bitcoin bullish As a direct result, the price ceases to rise.

Three days are needed to complete three candlestick patterns. This can be frustrating as the third one might fail. It is important to note that when they do make an appearance, it can be a signal for a trend continuation or trend reverse. Morning Star is a three stick candlestick pattern that takes three days to form on the charts and is considered to be a complex pattern. It is almost similar to the Bullish Doji Star Pattern.

A hammer is a candlestick that has a long shadow and a small body at the top of the trading range. Notify that the shadow is at least twice the length of the body and no matter what the color of the body, when it appears at the end of a bearish market trend, it might indicate that the price would be higher next, depends on what time period you use for trading (e.g hourly, daily).

The head and shoulder pattern is similar the three Buddha patterns if you want to use candlesticks chart. This pattern has three consecutive peaks. click here - and right-facing peaks are the shoulders, and the peak in between is the head. Head is the highest peak, and the shoulders are about equal in height. The head and shoulder pattern consists left shoulder to the right shoulder, right shoulder to the neckline, and head.

Morning Doji Star is the opposite of Evening Doji Star. A long black candle is followed in the morning by a gap down, creating a Doji. The 3rd day creates a gap up with a white candle, which should be long enough to indicate the breaking of the old trend line (crossing the midpoint of the 1st day).

Although the NASDAQ seems bullish for most of its trading, there are still some weak spots that need to be looked at. The Relative Strength of NASDAQ exchange is strong, and could show gains. The index is over its last pivot point of 2332.95. It is also in excess of its twenty-five and fifty day moving averages.
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