Smart Forex Traders-SFT

Dark Cloud Cover is a candlestick pattern used to counter-trend trade a defined uptrend 🔼.

We look for this formation when the market is making a new thrust move upward and look to scalp a 1 to 1 or a 1 to 2 risk-reward ratio.

Please bear in mind this is an advanced strategy, and only traders that have been in the markets for a few years should be looking for setups like these.

Trading against the trend can be very taxing on emotions, but it can be a profitable way of quickly extracting capital from the markets.
To trade this pattern, we sell into buying pressure once we observe that momentum is dwindling.

This strategy is ideal for traders who do not have a lot of time to trade and need something that can give them a few good setups in the space of an hour or so ⏱.

Characteristics:
1. Market is in an uptrend 🔼
2. There is a long green candle AFTER a peak or thrust in the uptrend 🟢
3. On the next candle, it’s red and opens very near the high of the previous candle.

Are you familiar with this pattern?

Let us know in the comments! 💭

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Crash 1000 long term buy idea, Take Profit levels at green horizontal trendlines.

The forecast on Boom 500 future Price action💥💥💥

There has been 3 touches on the lower red trendline confirming a long Bullish trend to the upside. We are looking for a breakout at a key resistance zone of price 4871. # # # for further uptrend.

Once the price breaks the key resistance zone, we anticipate a third touch on the upper green trendline to get Sell confirmation or either way a trendline breakout to the upside for uptrend continuation.