Market been in a downtrend since the 10th of March, Possible uptrend soon after this distribution phase, but banks are accumulating buy orders before distributing sell orders, that's why you see the big pullback. (Big Bank Theory).
P.S. Im not good at eplaining things. But I trade Market Structure along with the Wyckoff method. Not so much on Fundamentals only a few.
評論
HarryHandsome
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I think it may rally up to 110.736 area (retest of previous LH) and then drop. What do you think?
Elijah4REXX
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@HarryHandsome, Thank you, and you was right it did retest that area. I just love the confluence, Retest of previous LH and trend line bounce !
Elijah4REXX
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@HarryHandsome, Looking at daily chart, I think we might see an uptrend, Usually when fibs break past or reaches 100% it kind of signifies that we will be losing momentum soon. Now it is just time to wait and watch. The patient trader is the best trader :) .