Looking at the Euro
I am looking at price action at what I think is, well resistance now at 1.4412. So the Big Boss is still in an uptrend but there is a BEEB candle for December. The Boss trend is flattening out, indicating that the move is losing momentum, this is compounded by the BEEB candle on the monthly (Big Boss). Now on the worker I may be wrong but after going through many charts I have seen this type of price action before, where there are several candles printing under a resistance level and none of them firmly indicates downward movement. It is indicating to me that the buyers are accumulating at this level faster than the sellers can offload?
*If price manages to move up past 1.4412 I expect this to be the retrace move of the BEEB monthly bar (wobble) before sellers take control again for a move down. I will be watching price action between 1.4412 and 1.4716 IF price makes it there*
I am looking at price action at what I think is, well resistance now at 1.4412. So the Big Boss is still in an uptrend but there is a BEEB candle for December. The Boss trend is flattening out, indicating that the move is losing momentum, this is compounded by the BEEB candle on the monthly (Big Boss). Now on the worker I may be wrong but after going through many charts I have seen this type of price action before, where there are several candles printing under a resistance level and none of them firmly indicates downward movement. It is indicating to me that the buyers are accumulating at this level faster than the sellers can offload?
*If price manages to move up past 1.4412 I expect this to be the retrace move of the BEEB monthly bar (wobble) before sellers take control again for a move down. I will be watching price action between 1.4412 and 1.4716 IF price makes it there*