Dislikedprofit taking is only likely to come when a negative news against eur/usd send it off by a sudden dumping of a long bear candle.
Most long positions are likely to be on trailing stops than profit taking target, even if target is reached, i only expect partial then a full taking as most long probably may want higher on a trend. Only a sudden bearish engulfing that's like at least a good 50-100 pips length can turn the scenario. Once it offset the long positions, then only short positions will gain control gradually, as by then long may turn to be short, and when each level of support began to break, more and more trailing stops get hits, then we see our retracement before any reversal.
Most position in a trend are being as ass, they can take hours to drop and mere minutes to climb, because that's trend. Most against trend positions are likely to be so called minor retracement/correction for more dips buyers to fill in at support level. Just like previously when 1.2880 crack, how price dive to 1.265* area, when price is on trend, no matter how much a buyer buy he still feels hes fighting trend, only until certain level of price is gained control by a lift up from 1.26 into 1.28, a good 100 pips lift, it offset the trend and short positions gradually, and positions start to change sides.
A need for a negative news that can send eur/usd down quickly is important to drive fear and panic to the long position takers. As bids will less likely to fill in at S1 or even S2 depending on fundamental. Just like how we see each level of R get broken easily as ideally, no one is really willing to tank for long. Retail positions are minor and small compared to the bigger ones. Options barrier won't stand once its broken, as it will be accompanied by buy stops likely, as we witnessed how each breakout send the price higher and higher and consolidated without falling.
eur/usd can be an ass when coming to bids/offers, just like how friday's squeeze in US lone session send price in one direction.Ignored
nice......
this is like i am reading a traditional text book on trading.
so where will be the price tomorrow at US close? just numbers please, no letters if that is possible.
As Above, So Below
There's such thing here? Professionals?
