I have read and re-read this post and I need someone to explain some things to me. http://www.forexfactory.com/showthread.php?t=71487
1. Looking a picture 1: Why is the first 'valid bearish correction' valid? Because the wick on the candles crossed the red EMA and not the green EMA? If so, why aren't the other candles that do the same thing considered to be corrections as well?
2. Picture 2: Why did the first candle become the setup candle? What made it special? Why that particular candle for an entry point?
I probably have more questions, but I think if someone would share their knowledge about these base questions, I could figure out the rest.
Thanks!
1. Looking a picture 1: Why is the first 'valid bearish correction' valid? Because the wick on the candles crossed the red EMA and not the green EMA? If so, why aren't the other candles that do the same thing considered to be corrections as well?
2. Picture 2: Why did the first candle become the setup candle? What made it special? Why that particular candle for an entry point?
I probably have more questions, but I think if someone would share their knowledge about these base questions, I could figure out the rest.
Thanks!