Getting simple with spike tradingCoded up a highlight for a simple plan to look for price spikes where the candle closes to hold the median line. Stop loss above the spike; targeting a 2 to 1 or 3 to 1.
Spike-trading
Potential trade setup: EUR/AUD analysisAs previously mentioned EUR/AUD has overextended into the yearly highs price region, even though we should be expecting a retracement price can be easily manipulated around this region especially ahead of a lot of fundamentals data from ECB and AUD policy details out this week that could easily be a key driver in market activity. Awaiting for a potential 3rd drive into the highs before considering additional shorts to the targeted region to bounce off the trendline which is in alignment with the 50% fib line.
Trade update:XAU/USD analysisprice could tap the dynamic resistance $1342.93 and have wicks rejecting that zone before price reverses and rallies to the targeted downside of $1320.00
Trade Update: EUR/GBP analysis this is the 3rd drive into the highs of 0.89155 which price couldn't break, almost creating a triple top, this is a great risk/reward trade as mentioned before.
Similar SPIKE Upwards, Similar Candle Construction. Breakdown?COINBASE:BTCUSD Is acting as always in algorithimic patterns.
So far I see similar construction from the first breakdown. Making me lean to another breakdown making a "BART" Simson on macro chart of 1week.
