MAY 0.065 This is one of the best two hour charts you will ever see in your life and if you restricted yourself to only ever trading this pattern you will become a very wealthy person.
1. there was a dump
2 any series of three or more wicks beneath candles in a row tells us to expect an imminent reversal
3The 8 WMA has crossed above the 34wma which invariably leads to higher prices.
4 The row of green candles made higher highs above the 8wma and then pulled back to test the 34 wma for support
5 After two red candles we had a doji which tells us that the selling has stopped and the pullback is over.
6 Once again we have three wicks below the candle bodies saying expect an imminent reversal
7 Overall, this is the pattern we look for for a dump and pump setup which usually leads to parabolic trends developing.
8 These trends are a better idea than chasing a couple of pips because parabolic trends on two hour charts can be scaled into
meaning you risk little money initially and add to you position as the trade progresses.
