This is kind of funny... I made most of my money last night into US open trading this pattern right here...
First I was trying to feel out the bottom buying on pushes into resistance and selling into reversal up candles and luckily caught the big pop! Then I was buying inside bars and dips around median, and then continued buying dips as the move turned over, but adjusting buys lower for the downward momentum cycle.
God I love high volatility with a slow trend... With bars ranging around 10 pips and a downtrend speed of 5 pips per 50 minutes it's very hard to lose buying low and selling high...
I passed out asleep before the pattern turned organized into US session. My theory about the volatility in this situation was that the market was transitioning from EU traders to US traders and once the market was dominated by US traders into US session the emotional cycles reorganized again.
That big dip there that occurred afterward was because of traders/speculators buying the euro because of the bad us housing market news. They blew out because they were buying good news for the EUR/USD against a slight downtrend creating a temporary long speculative bubble in the EUR/USD. Hmmm... Maybe the cycles and candle counts reorganized afterward because the news was released. Who knows who cares.
First I was trying to feel out the bottom buying on pushes into resistance and selling into reversal up candles and luckily caught the big pop! Then I was buying inside bars and dips around median, and then continued buying dips as the move turned over, but adjusting buys lower for the downward momentum cycle.
God I love high volatility with a slow trend... With bars ranging around 10 pips and a downtrend speed of 5 pips per 50 minutes it's very hard to lose buying low and selling high...
I passed out asleep before the pattern turned organized into US session. My theory about the volatility in this situation was that the market was transitioning from EU traders to US traders and once the market was dominated by US traders into US session the emotional cycles reorganized again.
That big dip there that occurred afterward was because of traders/speculators buying the euro because of the bad us housing market news. They blew out because they were buying good news for the EUR/USD against a slight downtrend creating a temporary long speculative bubble in the EUR/USD. Hmmm... Maybe the cycles and candle counts reorganized afterward because the news was released. Who knows who cares.