[Today 2024/11/29 Pound-Dollar] Pin bar on higher timeframe and pullback selling signal of mBDSR from lower timeframe showing a support rebound
Indicator that shines when used in combination with RCI: BODSOR・mBDSR
Method and case study (PDF) ★GogoJungle AWARD2020 winner★
https://www.gogojungle.co.jp/tools/indicators/11836
GBP/USD 1-hour chart
Looking at the area circled in white on the above hourly chart, it suggests a potential decline.Pin Bar(a candlestick with a long upper wick) has appeared, and it may not be strange to consider selling on a lower timeframe after a retracement.
In this case,Pin Baris a pattern where traders who jumped in during a strong rise get caught. Public sentiment can be interpreted as bearish.
GBP/USD 5-minute chart
On the above 5-minute chart, after thePin Bar(candlestick with a long upper wick) appeared on the 1-hour chart,the support levelbroke. With the subsequent rise,the mBDSR (two-filter RCI) sell signallights up and the price moves lower.
From this example,the trade method focusing on Pin Bars and support breaks (Dow Theory)andthe signals of mBDSRshow a strong compatibility.
※Please note that in the charts introduced in this article, for the sake of explanation, circles, lines, and rectangles may be added.
Indicator that shines when used in combination with RCI: BODSOR・mBDSR
Method and case study (PDF) ★GogoJungle AWARD2020 winner★
https://www.gogojungle.co.jp/tools/indicators/11836
The PDF file includes 358 files (over 1,400 pages, over 470,000 characters).
Many of them are compiled as examples that rationally link the higher and lower timeframes using three RCI lines, and eventually detail the approach of waiting for pullbacks or retracements on the lower timeframes (i.e., the mBDSR signals).
Additionally,many are focused on identifying points where multiple entry reasons overlap..
Furthermore,there are methods that explore upward and downward targets using three RCI lines..
In the PDF explanations,more than 1,350 chartsare used.
Method and case study (PDF) ★GogoJungle AWARD2020 winner★
https://www.gogojungle.co.jp/tools/indicators/11836
GBP/USD 1-hour chart
Looking at the area circled in white on the above hourly chart, it suggests a potential decline.Pin Bar(a candlestick with a long upper wick) has appeared, and it may not be strange to consider selling on a lower timeframe after a retracement.
In this case,Pin Baris a pattern where traders who jumped in during a strong rise get caught. Public sentiment can be interpreted as bearish.
GBP/USD 5-minute chart
On the above 5-minute chart, after thePin Bar(candlestick with a long upper wick) appeared on the 1-hour chart,the support levelbroke. With the subsequent rise,the mBDSR (two-filter RCI) sell signallights up and the price moves lower.
From this example,the trade method focusing on Pin Bars and support breaks (Dow Theory)andthe signals of mBDSRshow a strong compatibility.
※Please note that in the charts introduced in this article, for the sake of explanation, circles, lines, and rectangles may be added.
Indicator that shines when used in combination with RCI: BODSOR・mBDSR
Method and case study (PDF) ★GogoJungle AWARD2020 winner★
https://www.gogojungle.co.jp/tools/indicators/11836
The PDF file includes 358 files (over 1,400 pages, over 470,000 characters).
Many of them are compiled as examples that rationally link the higher and lower timeframes using three RCI lines, and eventually detail the approach of waiting for pullbacks or retracements on the lower timeframes (i.e., the mBDSR signals).
Additionally,many are focused on identifying points where multiple entry reasons overlap..
Furthermore,there are methods that explore upward and downward targets using three RCI lines..
In the PDF explanations,more than 1,350 chartsare used.
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