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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