Over looking the significant bull run we have been on since the drop in the dollar after biden's tax expeditions last week , we have a chance to test our resolve in contrary to our usual beliefs and see how far technical analysis really goes in tune with individual sentiment.
Take your attention to the 25th and focus on the range bound around 1.209xx what do you see? who has the higher control in momentum, is it the sellers?
who is holding pressure just above 1.21xx can price test those stops and trigger most buyers out of the market before we see a drop lower?
The more i ask such questions the more my understanding of techincal analysis seems to interest me even more , brings me basis from my recent idea on AUDUSD shorts at the trend line , prior to that we had seller sentiment for a drop but why didnt the trendline hold, yet everything looks bearish in that sense ?
do trendlines not work? , i ask because we are at the trendline again just like we were on AU last week, at the 3rd touch as well reknown , for its reactionary setting as many short sellers jump onto the bang wangon and push more liquidity into the market.
My stance is to see a reversal @1.211xxx range bound, buyside momentum pushed upside above 1.21xx to clear out all last sellers and create new threshold of sellers ,we should get a good drop from this area , risk well reserved at 20 pips in respect to trend
Tell me how you know price is too high, and how you react to that prior to the move or after ?
goood luck
Take your attention to the 25th and focus on the range bound around 1.209xx what do you see? who has the higher control in momentum, is it the sellers?
who is holding pressure just above 1.21xx can price test those stops and trigger most buyers out of the market before we see a drop lower?
The more i ask such questions the more my understanding of techincal analysis seems to interest me even more , brings me basis from my recent idea on AUDUSD shorts at the trend line , prior to that we had seller sentiment for a drop but why didnt the trendline hold, yet everything looks bearish in that sense ?
do trendlines not work? , i ask because we are at the trendline again just like we were on AU last week, at the 3rd touch as well reknown , for its reactionary setting as many short sellers jump onto the bang wangon and push more liquidity into the market.
My stance is to see a reversal @1.211xxx range bound, buyside momentum pushed upside above 1.21xx to clear out all last sellers and create new threshold of sellers ,we should get a good drop from this area , risk well reserved at 20 pips in respect to trend
Tell me how you know price is too high, and how you react to that prior to the move or after ?
goood luck
Comment:
Trade active:
+50 pips