Stop Hit Pattern | Live Forex Trade | AUDCAD | 4 Hour Timeframe

By | February 4, 2016

See attached video – This video was originally posted on June 30, 2014. This is a perfect example of the Stop hit pattern on the AUDCAD 4 hour time-frame. We sold the AUDCAD at resistance after a couple of stall candles formed above the break out level. The market sentiment was extremely bullish as the price pushed sharply up to the resistance level formed last week. After reaching resistance the bulls were quickly silenced and the market completely stalled out. In short, we transitioned from a strong bullish push to the upside into a complete stall. This was followed by an engulfing signal that pushed the market back below the breakout level. Finally, the price plowed right through our profit target and continued to fall until finally reaching the well established support level.

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