EURUSD only

Past 2 day's candles on the daily charts paint a mixed picture
11-14 Very strong bullish candle with way above average range & closing near the high
11-15 Very bearish candle with a long pin tail

Anyone have any data on how this particular 2 day pattern plays out?

I scanned back over the dailys over the past year and didn't really see anything like this combination
However, I did notice that long bearish pin bars that extend above Bollinger Bands tend to be reliable reversal signals

Looking very weak here IMO. Short-term key level at 1.1786 was broken and retested. Looks like a bear flag.

I wouldn't be surprised to see it slice through the 200-bar SMA like butter. Next real support is somewhere in the 1.1720 range. if that goes... who knows.

for a fresh short, i will consider shorts at 1801
bearish on h4 first time after nov 8 so yes i will not buy this

Any thoughts on tax reform passing?"

took short @ 1780

It likely wouldn't be going to a vote (tomorrow I believe it is?) if it wasn't highly likely to pass.

That's politics.

real fun will start below 1772

real fun will start at 1.1782...and up

If anything, at least we should see 1.175

adding short at 1777, fun has begun

right. probably we think about different sequence to get to 1.1750.

nice sell.lets see if it down to 1700

Took short at 1.1780 target 1.1630

Good morning folks.. wishing you an awesome day..

The last two trades yesterday were losers.. meaning sell pressure (or the appetite for taking profit) must have been higher than expected. Because overall (although the shooting inverted hammer on daily) there was no reason to short. In my thinking it is overreaction for a rare situation that never happened before.

Therefore I still expect higher highs.. maybe not today but I believe we might be wondering soon how much higher it can rise. For example a potential cypher is on my radar completing at 1.1960, of course if price can rise above 1.1880 first. This type of little potential opportunities lurking here and there makes me think that bulls are not done yet.

For today I will still try to buy the dips but first I need to see price coming back above 1.1780... otherwise I am staying away for a while.. Trade safe and good luck..

Stay Green

similar history...

Agreed, down move not over yet but setting 300 pip targets for this move is unrealistic to me. It's just a retracement in a much bigger up move to follow imo.

I'll add to my short at 1.1805
SL @ 1.1818
PT1 @ 1.1675
PT2 @ 1.1565


Main justification is based on Andrews Pitchfork drawn from the high of the 4/10, low of the 6th of the 10th and high of the 12th. Draw on both the 1 hour chart and the 4 hour chart supported by various probability calculations.
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07:07: I am glad the algos also respect the downside potential.

Bulls aggresive but i try short 1.1798 stop 25, tp 50.

New Buy Order: 1.1792
SL: 1.1780
TP: 16 pips or more.. (will trail)

Stay Green