meghal.jani
Short

A failure to create a higher high.

FX:EURAUD   Euro / Australian Dollar
73 3 1
After 50% retracement in price, this pair has failed to create a higher high with a bearish engulfing candle.
My concern is regarding the D1 trend, as it still bullish...
Now the price hit the 61% Fibo Retracement, it can be a sign of a new high low...
What do you thinbk?
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meghal.jani tempraturbo
Looks like retracement did not go as far as I thought. I closed by shorts.
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How and why would a bearish engulfing candle have changed your interpretation of the retracement?
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