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  1. #1
    Rookie Member johnwboyd's Avatar

    Long Candles & S/R Lines !!!

    Long candles tend to be followed by market corrections however once S/R is broken it can tend to keep going towards the next S/R.

  2. #2
    Legendry Member Michael Hodges's Avatar
    Yeah, that's not really a great statement. Long candles tend to be a sign of market strength and indicate the direction of trend. They can sometimes become part of a bearish signal (if bullish and vice versa) if they are followed by another black candle of specific types.... simply trading on one because it is long, expecting a correction, will get you into a lot of trouble.

  3. #3
    Legendry Member Okane's Avatar
    Quote Originally Posted by johnwboyd View Post
    Long candles tend to be followed by market corrections however once S/R is broken it can tend to keep going towards the next S/R.
    An example of this is EUR/USD yesterday. But that sudden volatility was
    due to news so traders must be very careful.
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  4. #4
    Legendry Member Okane's Avatar
    Quote Originally Posted by johnwboyd View Post
    Long candles tend to be followed by market corrections however once S/R is broken it can tend to keep going towards the next S/R.

    Anyway, this thread is about systems and strategies. You can share your "thoughts" in your diary
    in the members war room in the future and place your analysis and observations there. Thanks.
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