EURUSD question

EURUSD question

A student asked me if this ↓ EURUSD chart is OK?


I answered him that buying is risky and here is why (refer to Chart on Top)

1) SLKT number one
2) Huge volume wide-bar with closing on the very low. It looks like the market knocked out sellers by triggering their SLs and prepared for down move.
3) SB and a start of expected down-move.

Note small trap for bulls on Monday, intraday scale

I don’t believe market has gained its targets on the down-side. So – repeat- buying is risky.

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