DislikedWhos in for the ride at 1.5450?
Market now at 1.5470
We saw run ups of over 200 pips as retraces.
this run up is now 202 pips retrace yet. So we did
not witness anything extreme. Thought trichets
comments might have awaken the bulls, what i'm afraid
off, but overall, I still have a strong trendline at
1.5500, 1H 200 SMA is also at 1.5500 area.
So before I would consider to go long, I would wait
for 1.5500 to be broken hard, and buy the market on a
retrace or even better when it comes back to test 1.5500 area . That would confirm to me that the down moveis over.
I think 1.5500 will hold and we'll see prices bellow
1.5200 to come.Ignored
I am taking this trade at 1.4450 due to the fact than in my experience daily pinbars tend to be reliable more often than not.
As of now the market is just hanging around...
Also, the speed with which the market put in that retrace makes me think it may have been a valid reversal day.... maybe...
Everyone says don't pick bottoms.....