Post by account_disabled on Mar 9, 2024 11:13:25 GMT 1
Rocket: a pattern that allows you to find the trail of a great player Behind every movement of a currency pair in Forex there is money, and behind big movements there is a lot of money. In technical analysis, there are many methods to identify the footprints of a major player. There is even an entire area of technical analysis called "VSA", where volumes and spreads are studied to understand what market professionals want or plan to do. At the same time, such an important parameter as time should not be ignored . The actions of a large player will be rationally aimed at checking whether there are strong competitors in the market. Many traders start a new trading day with a ready-made investment idea . Pending orders placed, just have to find out how big they are. To do so, a serious fluctuation is required: a wide range bar.
If a bar with a long shadow forms after a wide range Mexico Mobile Number List bar, the check ends. A big player can proceed with his intentions. Two important things to note here: - Negotiation session - Currency pair It is not surprising that the Australian dollar, New Zealand dollar and the Japanese yen are most actively traded at the beginning of the Asian session , the euro, the pound sterling and the Swiss franc - at the beginning of the European session , while the Canadian dollar and the dollar - at the beginning of the American session . First, the world doesn't wake up at the same time. Second, important macroeconomic statistics are usually released at the beginning of sessions. The “rocket” pattern can help determine the preferences of a big player and build a trading strategy based on them.
The pattern consists of two bars and occurs at the beginning of a Forex trading session: - A wide closed bar in the direction of the existing trend on the daily chart. - A bar with a long shadow and a small spread. “Rocket” pattern on the USD JPY hourly chart Lite Finance: Powerful Forex Pattern: Rocket | Litefinance In the conditions of a clear uptrend in USD JPY , a trader needs to detect wide bars at the open. Big players use them to check if serious competitors are present. They were found in the first case and not in the second. Note that a rocket formed not only at the beginning of the Asian session, but also at the border of the European and American sessions. A pair always contains 2 coins. There are those who want to sell the yen in Japan and those who want to buy the USD in the United States.