The Candle Expert

I've been away for a while, but not without purpose: I've been working on an automated trading system based on the identification of the hammer and hanging man candlestick patterns. I'll post my results of testing this week, along with comments.

It looks as if the Cable took a tumble this past week, falling from 1.9070s down to 1.8720s. According to my longer term daily charts, the consolidation of the Sterling could be complete, and price may be breaking lower. This is more of a long term concern, however, and may not have as much of an effect on tomorrow's action.



4Cast seems somewhat indecisive on what the action will be tomorrow, although it seems slightly bearish. With this in mind, I'm selling the Cable at 1.8630, which is the previous swing low.

Happy pipping!