Since I have focused more on candle patterns this week, the golden spike is probably the 2nd best. This is totally a scalp trade. The methodology is that when there is a big spike that gets beaten back down, you trade the next candle in the opposite direction with a stop loss above the spike. Since the only current one I am seeing is on EUR/USD, I will use it for the example. I did not trade this although the thought crossed my mind. But 90 pips was more than I was willing to place on a scalp trade. There will be much better chances to trade this through out the year. It is more seeing the pattern. The arrow is the golden spike.
