The setup is an engulfing bearish candle, where a red candle covers the previous blue candles. (Each candle is five minutes long.) They use that as an entry to a short trade for Euro / USD and AU / USD. Part 1 is four and a half minutes.
The trade is taken if there is a bearish engulfing candle that is bouncing off of a barrier. They discuss their stop-loss, which is 10 pips (ten hundredths of a cent), that is equal to their target profit. Part 2 is five minutes long.
They further discuss the trade here in part 3, four minutes forty seconds.
The last two minutes they discuss other trade criteria.
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