Nice faulse breakout there. Looks like could be stop hunting going on - are the big boys onto something....
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Dislikedsorry but someone who knows all the pattern names and uses them actively like the person who opened this thred can not be focusing on the reasons for those moves , someone who truly understand the reasons do not even need to know those names as they are coompletely useless and only thinking about them is counter-productiveIgnored
DislikedWhat I mean is very simple: these great patterns may tell you something about indecision right now but understanding the reasons for what is happening allows you to understand what is likely to happen next , there are simply too many people looking at such things like "indecision" , then the price breaks out into the trend direction and they think - great , indecision is over the bulls are winning over the bears - and then price just plunges down with even more force and stops them all out , but can such a plunge really be out of nothing?Ignored
DislikedBTW, that E/U triangle was worth an easy 30 pips. Made my target today, I'm going hunting!Ignored
DislikedI never wrote anything about fundamental analysis what I wrote was:
technical analysis must be confirmed by fundamental analysis
technical analysis not confirmed by fundamental analysis is simply gambling
that's it , I am not talking about not using technical analysisIgnored
DislikedYou have a good thing going here. Don't get discouraged. The strength in carry pairs today is due to liquidating treasuries and moving to high risk instruments. This daily reversal is strong.
Your concept is good. Keep up the good work. If you combine FA with your price action analysis you will do well.Ignored