In a bullish market, a reversal day consists of trading range that reaches a new high but closes lower than the previous day's high. This pattern reflects up side exhaustion.
The Cable double day / the two day "rule" 14 replies
Textbook examples of Price Action? 3 replies
DislikedAlso, close to being a pin bar bearish signal. I am short at 1.9077, what SL would you place. Currently I put it at 5 pips higher than previews day's close. Thanks.Ignored
DislikedI think right now the traders have no conviction on where this is going. That is usually what happens when a trend is losing steam.Ignored
DislikedThis first sign of dollar strenght via NFP or whatever and this thing will fall like a ton of bricks right now its sucking in all the dumb money like a vacumm think price will grow to the sky, then bam!! huge drop off and everyone will be like what the hell happened?!! even if we do get another run up it will most likely be followed by a short squeeze just like this recent attempt at 9140...
just my opinions.Ignored