Watch Breaks Against Bias for Failure Opportunity


Within hours of publishing last week's article, I received contact from two readers who both had identified similar opportunity within other forex pairs.

First, see last week's article here if you missed it:

And let's check out the followup…

First was a twitter message from AC:

@YTCtrading Aussie/USD this morning πŸ™‚ Same same but different! πŸ™‚


I'm not 100% sure of the timeframe that AC was looking at. I assume it was the 1H; the same as in the article. And upon opening the AUD/USD 1H chart it just stands out beautifully.

Watch breaks against bias for failure opportunity


And following shortly after was an email received from PK. Here's an extract from the email:

Funny thing, timing.

I read your email this morning and a few hours later I noticed cable had climbed back up to resistance (prior day high) and quickly retraced, into this weeks down trend.

A few bars later, it's there again and I note:

1. Market is struggling to find any more buyers

2. If price has failed to do something twice (break the resistance), then it’s probably going to do the opposite

3. Not a bad 'sell signal' trigger to use (1 hour candle bar format)

Time to put in a sell order, as there is multiple reward potential, if price can get back to the low of yesterday

There is a 1:1 or thereabouts, if it only makes it down to today's lows (see attached)


Here's a cropped version of the attached image, with some added notes:

Watch breaks against bias for failure opportunity


Thanks to both AC & PK. Great observations!  πŸ™‚

Happy trading,

Lance Beggs

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YourTradingCoach - Admin

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