I have described ledges before in my postings which could be traded on the weekly chart some time ago. This time, a ledge can be found on the daily chart, currently consisting of 8 bars. Many times, price consolidation ends with a doji bar. A ledge consists of no more than 10 bars, where 2 bars have matching highs and 2 bars have matching lows. there can be a difference of up to 3 pips in the matching prices. there has to be at least one bar between the bars with the matching highs, and at least one bar between the bars with the matching lows. All criteria is currently met, and today's bar may end up being a doji bar. Ledges can break in both directions, but usually break out as a trend-continuation (down-trend). The sell-entry price would be 1 pips below the low of the matching lows, which - on my chart - is 1.3335 (- 1 pip). Short-term goal is near 1.3270, long term is near 1.3150. The matching highs in the ledge (on my chart) are 1.3431 and 1.3432. take the higher one of the 2 prices (+ 1 pip) as a buy-stop entry in case prices break to the upside.
I also wanted to mention that a doji bar has matching open and close prices, with a MAXIMUM of 3 pips difference. Yesterday's bar on the daily chart was NOT a doji bar - at least not on my chart. Any chart faster than the 4-hour chart, the price-match has to be within 1 pip.
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