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Thread: Reversal moment

  1. #1
    Specialist Member protrader's Avatar

    Reversal moment !!!

    I have noticed that the minute 42 (no particular hour) is a good moment to spot a short term reversla. It even works on a long term scale.
    For example looking if at this time price is either right on the top or bottom and see the direction of the XX:42 candle.

    This is my experience, so I thought to share
    Let me know if you find i usefull
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  2. #2
    Veteran Member randy1953's Avatar
    interesting will let you know
    thanks

  3. #3
    Specialist Member protrader's Avatar
    Let me know if you have any questions, but it worked for me great to spot local tops and bottoms
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  4. #4
    Veteran Member randy1953's Avatar
    Quote Originally Posted by protrader View Post
    Let me know if you have any questions, but it worked for me great to spot local tops and bottoms
    I used it on 4 consecutive trades worked everytime. I time it short term maybe 3 mins out till when it hits the 42 mark. The only thing is you need to know the direction it will move to and if not much movement with my pair it can be a bit tricky. But I like it thanks for the tip
    Randy

  5. #5
    Specialist Member protrader's Avatar
    Yes if you know the direction it works even better, for example look at 3m chart (you could use oanda or tradingview) and if you see that tops (or bottoms) are formed at the 42nd minute (candle 42 goes in the direction of your projected trade) then its a strong signal. Also this price where these tops or bottoms occurred is usually key support or resistance levels.
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  6. #6
    Specialist Member protrader's Avatar
    Here is the live example of the minute 42 candle that is marked with the grey vertical line. Look how it forms level of resistance. And later at this level of resistance we see again m42 being right at the top

    by the way I sold CHFJPY at that top targeting 300 pips profit
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  7. #7
    Banned Bradhaddin's Avatar
    Yeah that's very useful.

  8. #8
    Specialist Member protrader's Avatar
    I am still short CHFJPY
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  9. #9
    Specialist Member protrader's Avatar
    Quote Originally Posted by Bradhaddin View Post
    Yeah that's very useful.
    glad it helps
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  10. #10
    Specialist Member protrader's Avatar
    Look again

    I'll be adding to my short position at this area
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