Shandy Question

Here is a question and chart posted by Shandy on the Forex factory 10XROI thread  I have posted my chart and answer to his question underneath.

“Ok so attempt number 2 here in identifying a push-pull formation – CADJPY Daily, candles marked as 1,2,3 with 3 being the red candle. Or would this be a 1,2,3,4 formation, with the candle 1 being the large bull candle to the left of where I have number 1 now?

And if this is a valid formation, where would the “trigger” line be placed?”


Here is my chart with the moving averages and trend line break which helps to determine momentum, you will notice there was a trade prior to the one Shandy is pointing out which because it was closer to the source of momentum was a better trade.  However back to the candle pattern recognition.  Candle 1 is the pin after the pullback,candle 2 is always the Push candle and in this instance the pull back to the close of Candle 1 was at the low of candle three.  I have marked the push-pull level in green.  Upcoming resistance is the red dashed line.



2 comments for “Shandy Question

Leave a Reply

Your email address will not be published.

Captcha * Time limit is exhausted. Please reload CAPTCHA.

This site uses Akismet to reduce spam. Learn how your comment data is processed.