DislikedEURGBP analysis: Be warned, this is not TMS 5-Method. Disclaimer: I am not an excellent, not a good trader, not a master trader, etc. Do not follow what I do and say here. Look at H1 chart below: Look at how the market retraced back into that H1 WRB 2 times. Do you see sellers in those 2 pull back? {image} Next look at H4 chart below. there is a H4 WRB and the market did not pull back into that WRB. Will pullback into that H4 WRB later, maybe and maybe not. But there is possibility when there are enough orders to fill. But we can;t see all that...Ignored
took another look at H1,
it now do a 3rd retrace into that H1 WRB.
we still cannot see if there are sellers or buyers, generally it looks choppy.
there must be lots of stop and limit orders accumulating now. the smart money will get to work soon when there are enough orders to fill.
we poor retail traders cannot see the orders and the real volume. there is no central exchange for spot forex.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett