Re Deanoracers post

Deanoracer has found a beautiful reversal push-pull setup see below, however I would like to explore the context of the trade more thoroughly see my chart below his.

2013-12-22_1033

 

channel_reversal

 

In this chart there was a downward daily channel which looks like it is beginning to fail in the area where the reversal is.  This could be in our favour as that means it will likely reverse to the upside.  However this is not straightforward, I would be far happier to find this reversal push-pull at the upper channel trendline area and pointing down.  Also notice there is another narrowing channel beginning to form within the larger channel which is about 150 pips away and may cause price to reverse.  So as I have said before the context comes before the pattern.  I invented  the TAYJ system to find more trades and I would advise readers to get my books ‘The Trade Around Your Job System’ and  ‘Pyramid Your Trades to Profit’ which shows how to use both systems together to find more trades and how to increase the potential ROI from 1-10 to 1-30.

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