Buyers are we Stretching the Luck? 🫢
Updated
- Weekly Candle is Bullish and has pushed past the previous week's high creating a nice breakout of 77 pips
- The 3 Daily candles this week have been Bullish
- The Previous Daily candle increased by 70 pips in total ( 31 Pip Body and 40 Pips top wick )
- The previous daily candle's top wick was larger than the body of the candle itself.
- The 4hr timeframe has closed two large engulfing bear candles in the time since Interest rates
- The Market has punished late buyers with Interest rates data ( I called this out check previous post)
- The market has seen a change of character and this has known to be a frequent occurrence with interest rate releases.
- I don't think a randomness bias is associated with this Short Idea after we have seen 3 Bullish daily candles in a row ( The evidence above )
- The Market is Beast and representation of the psychology of all of it's participants. Follow your understanding of the price behavior and execute with only good Risk/Reward Ideas.
- The 3 Daily candles this week have been Bullish
- The Previous Daily candle increased by 70 pips in total ( 31 Pip Body and 40 Pips top wick )
- The previous daily candle's top wick was larger than the body of the candle itself.
- The 4hr timeframe has closed two large engulfing bear candles in the time since Interest rates
- The Market has punished late buyers with Interest rates data ( I called this out check previous post)
- The market has seen a change of character and this has known to be a frequent occurrence with interest rate releases.
- I don't think a randomness bias is associated with this Short Idea after we have seen 3 Bullish daily candles in a row ( The evidence above )
- The Market is Beast and representation of the psychology of all of it's participants. Follow your understanding of the price behavior and execute with only good Risk/Reward Ideas.
Note
I flipped my bias and took a Buy position which worked outquite nicely with Eur interest rates. When I post my analysis publicly , it is jsut that, which is analysis. Take what you can from it and use it to your benefit. It is important to stay flexible as a trader as it's not about being right but about earning profits.
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