UKtradergirl
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...and?
Your chart appears to suggest that the next move could be up or could be down. I'd say you were very correct in guessing this.
Your chart appears to suggest that the next move could be up or could be down. I'd say you were very correct in guessing this.
Sarcy, sarcy!
Friday was an inside bar, that tells us (me, at least) that a break up, or down, is possible.
Agreeing with Split, UKtradergirl, this could be a good one to set orders before tomorrow.
As over on the Tradin' the FTSE thread, Friday was almost an ID/NR4 on the FTSE but was certainly this on major US indices. This is one pattern that does not indicate direction, but it does suggest a break-out either is imminent and I have entered a buy above and sell below Friday's FTSE range. I suspect the odds favour an upside break-out, given the strong finish in the US Friday evening, but the sell order stands until the buy is triggered: the opposite extreme if the range of course becomes the stop.
Good success with this pattern in the past, and a nice characteristic is that the stop is inherently a shortish distance away only, this being an inside day pattern.
As over on the Tradin' the FTSE thread, Friday was almost an ID/NR4 on the FTSE but was certainly this on major US indices. This is one pattern that does not indicate direction, but it does suggest a break-out either is imminent and I have entered a buy above and sell below Friday's FTSE range. I suspect the odds favour an upside break-out, given the strong finish in the US Friday evening, but the sell order stands until the buy is triggered: the opposite extreme if the range of course becomes the stop.
Good success with this pattern in the past, and a nice characteristic is that the stop is inherently a shortish distance away only, this being an inside day pattern.
UKtradergirl
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Sorry got out the wrong side of the bed this morning!
Happy breakouts for tomorrow everyone
:cheesy:
