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Black Candle Trading

In the last few weeks you’ve heard me talk about trading black candles. And today we have a few that have completed, and at least one that is setting up.
I was short the AUDUSD from the black candle on 04/02/09 and it closed out this morning.  Here is a look at the chart.

The set up happening on the GBPUSD is very interesting. We had a black candle form on 04/02/09 and today’s candle is black. That means I will be looking for a reason to long the pair. I think I will wait for the pair to finish the move lower to about 1.4404 before getting out though. The GBPJPY is forming the same set up as well.


I have also been long the USDCAD for several days, and that trade is beginning to turn in my favor also!

If any of you want the black candle script, I would be happy to send it to you. The idea isn’t all mine so the script will not be shown, but the candles will show up for you as they do on my charts.

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