Disliked{quote} Well done @ Wavegarrick and lot of other traders big, young and small. My own question is were do you think we are going next for the trending phase? for me i guess Long, upward trend. this is my opinion, what yours?Ignored
A tricky situation here.
For 8 trading days in a row, they have brought price up and down only to close the day below 1.3550 and above 1.35172 ( my monthly pivot ). My 1st sign will be a daily close above or below these two levels for a more a aggressive buy or sell. The next thing and probably the most important will be a daily or weekly close above or below the two big levels 1.3500 and 1.3600.
For the last 4 days, we have seen lower highs and lower lows creating a perception that we are turning bearish but in a very tight range as stated above.
If yesterday's high at 1.35666 is broken it would be an indication that they want to take price higher.
I am very cautious at this point because they could take price up and down very quickly before a direction is established, nothing unusual with swings.
Wednesday/ Thursdays are usually correction, retrace, or reversal days for me.
Monthly reversals/corrections or retraces tend to occur from the 20th going into month-end.
Hope it helps
Cheers.
Trade to trade another day
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