Autochartist PowerStats give traders access to statistical information on the occurrence of consecutive bullish bars. This can be used to help estimate likely bullish movement for selected currency pairs. Historical data for various currency pairs is shown in the bar chart (1) above. Chart (1) shows that the JPY coupled currency pairs have the highest occurrence of having 4 consecutive bullish bars in a row and that EURAUD and EURCHF have the lowest. This is demonstrated in the complete EURJPY continuation triangle chart pattern (2) taken from the 15M chart. Bullish bars are indicated in green. From left to right, consecutive bars in sequence total as follows: 2, 5, 3, 6, 2, 5. Overall, the sequences average 4 consecutive bars in a row. Traders wishing to take advantage of this information could have used it to estimate that the price after 07:45 for example would continue to be bullish in line
with the PowerStats data indicated on (1).
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Disclaimer: Autochartist, MDIO Software, agents and resellers of Autochartist services do not guarantee the completeness, accuracy or timeliness of the information supplied. Users of this service should take independent decisions regarding any securities or financial instruments mentioned herein. Trading involves considerable risk: therefore, before trading you need carefully reflect on your risk appetite, investment objectives and level of experience. Do not invest money you cannot afford to lose. Past performance of strategies is not indicative of future performance. |
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