A big candlestick leaves no traders in the market
Analysing Forex from The Market side & perspective.
EURUSD is uptrend for about 130 pips with a pullback and big candlestick of 70 pips at the end of the trend. look at point number 1 where this candlestick stopped out buyer positions at 1.0954 and seller positions at 1.0988 in one move. This move leaves no trader positions in the area for The Market next moves. The closest buyer positions is at 1.0886 that has been accumulated since May,25. The Market needs to attract traders to open new positions by forming ranging market to be able to move and stop out positions. So, for sometimes EURUSD will not go anywhere.
EURUSD is uptrend for about 130 pips with a pullback and big candlestick of 70 pips at the end of the trend. look at point number 1 where this candlestick stopped out buyer positions at 1.0954 and seller positions at 1.0988 in one move. This move leaves no trader positions in the area for The Market next moves. The closest buyer positions is at 1.0886 that has been accumulated since May,25. The Market needs to attract traders to open new positions by forming ranging market to be able to move and stop out positions. So, for sometimes EURUSD will not go anywhere.
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