More Sellers start entering the market to fill an empty zone
Today at US opening session, the market is sideway after coming back from a huge & quick uptrend at end of April leaving no more Buyers at the certain level and attracting Sellers with it. It has been 30 pips down since weekly opening level and has potential to go down slowly to fill the empty zone with more Sellers.
a Big candlestick at April,30's US opening session leaves an empty zone in the market. it means there are no closing positions from the Buyers or the Sellers because by trader psychology, Traders would wait for the price to pullback and see if the trend is going to change or going back. At May,1 London opening session, the market went higher indicating the market is going to change and triggering Buyers to enter the market placing their stops accumulated right at the close of the big candlestick. On this week by Market psychology, the market is bearish since the opening hours means it wants to stop Buyers since the stops have been accumulated since last Friday.
a Big candlestick at April,30's US opening session leaves an empty zone in the market. it means there are no closing positions from the Buyers or the Sellers because by trader psychology, Traders would wait for the price to pullback and see if the trend is going to change or going back. At May,1 London opening session, the market went higher indicating the market is going to change and triggering Buyers to enter the market placing their stops accumulated right at the close of the big candlestick. On this week by Market psychology, the market is bearish since the opening hours means it wants to stop Buyers since the stops have been accumulated since last Friday.