This market is bearish, as quoted pairs are claiming their trend this market isn’t any difference. Don’t get fooled by the breakout here it’s a second legged trap!
A market that breaks out go into overbrought and quickly leaves out and don’t trend there shows rejection. Overbrought and oversold condition and a markets abilities to trend within them shows strengths likewise rejection of it shows weakness.
So we can clearly see the market retraced the last day and we can see in the daily it rejection from overbrought the smart move was to sell that high n hold that high when it started to retrace...
As again as I said many times
Price action isn’t about the action but by the reaction!
If a market is bullish you should expect price to break highs and hold it if that action get counter reacted then you need to start to look for signs of reversing as every major high here got retraced back into the trading range!
But don’t let me tell you anything follow the majority.... I’ll just follow up weeks n see where the market is and slap a reminder up
So gl
A market that breaks out go into overbrought and quickly leaves out and don’t trend there shows rejection. Overbrought and oversold condition and a markets abilities to trend within them shows strengths likewise rejection of it shows weakness.
So we can clearly see the market retraced the last day and we can see in the daily it rejection from overbrought the smart move was to sell that high n hold that high when it started to retrace...
As again as I said many times
Price action isn’t about the action but by the reaction!
If a market is bullish you should expect price to break highs and hold it if that action get counter reacted then you need to start to look for signs of reversing as every major high here got retraced back into the trading range!
But don’t let me tell you anything follow the majority.... I’ll just follow up weeks n see where the market is and slap a reminder up
So gl
