Apart from the Bullish and Bearish Engulfing patterns on 15 min charts one of the most exciting prospects is the NR4/IB where the market stalls like a motor car engine and just needs to kick-start from a state of entropy to hyper-inflation. Big Bang moment.
Spot the NR4/IB on today's 15 min CHF/ JPY. The trade setup came in prior to Tokyo open.
many Tokyo traders just love to get in there early and take advantage of directionless trading hoping to catch a big wave on Tokyo open.
The criteria for NR4 is that the preceding 4 candle bodies must be of same size or narrower and then the 4th or 5th body must become an inside bar and usually the color of the last body is an indicator of which way the market will surge.
Remember to trade 15 min charts within context of day charts and in particular the 50 and 200 day moving average.
Keep your eyes peeled.
