Bro,
take a look my worries.. from 148.10 to 151.30 we are having a range with same low, but lower High, forming a descending triangle ( a typical bearish setup).. everything is fine with this setup except the test of the UTL today at 150.30
There were a rumors but also I saw some traders posted the same NEWS, that Some ASian Central BAnks entered today on FX market, BOT, BOK (Taiwan, Korea ???), so what we saw is possible an one off buying/selling.
It is not unusual in pattern trading that we are seeing a false breakout at 65-70% of the lenght of the pattern (triangle in our case)..
But look that volume divergence. So, to be short.. THe moment we enter back in the triangle, below 150.20, Im realy expecting a test of DPP = 149.50 and with taking that then next support lay on 148.1.
[Charts]..
take a look my worries.. from 148.10 to 151.30 we are having a range with same low, but lower High, forming a descending triangle ( a typical bearish setup).. everything is fine with this setup except the test of the UTL today at 150.30
There were a rumors but also I saw some traders posted the same NEWS, that Some ASian Central BAnks entered today on FX market, BOT, BOK (Taiwan, Korea ???), so what we saw is possible an one off buying/selling.
It is not unusual in pattern trading that we are seeing a false breakout at 65-70% of the lenght of the pattern (triangle in our case)..
But look that volume divergence. So, to be short.. THe moment we enter back in the triangle, below 150.20, Im realy expecting a test of DPP = 149.50 and with taking that then next support lay on 148.1.
[Charts]..