WHY DID THE BULLISH CONTINUATION MOVE FAIL?

What does "End of Month Square Up" mean.
A square position is a situation where a trader or portfolio has no market exposure. ... The reason for this confusion is that the term "squaring up" is used to describe settling open trades before the market closes.
A square position is also referred to as a "flat position."
Square position, like many trading terms, can take on a different nuance depending on the speaker. For an individual forex trader, a square position can refer to offsetting long and short positions in the same currency pair or a situation where a currency trader holds no positions in the market. The reason for this confusion is that the term "squaring up" is used to describe settling open trades before the market closes. Squaring usually refers to just a few positions, but a trader could close out all of his open positions and get out of the market.

The "Market Makers" can use this trading principle as they move the market.
E/U had a Bullish Trend which became a consolidated range.
Price had a Bearish Breakout of the Range bottom which failed.
Price created Higher Highs and Higher Low making it appear a Bullish Continuation move was happening.
This drew in long traders leaving behind lots of money tied up in Stop Losses.
The Market Makers can tell where the most money is tied up on the Long side or Short Side.
It seems to appear that the Market Makers made the Bullish Continuation Reversal fail and took out the Stop Losses at the Higher Low entry point and also the 50% reversal entry point.
All of this happening the last few days of the End of the Month of October.
Could this be an example of the "END OF MONTH SQUARE UP?"