EUR - A positive close that followed a D lower high negative close. A sell set up that never followed through. The 4hr chart is still on lower highs lower lows but the current candle could change that. 1hr had a strong move up. It appears still that any moves down are reasons for big boys to exit their short positions i.e. they are not adding to the selling. So generally whilst there can be perfectly decent set ups (to buy or sell) would expect market to be relatively range bound.
GU - D chart engulfing negative close Fri could not break lower. 4hr is on lower high but the support at 1.6100 could hold. The 1hr shows the lower high lower low running out of steam.
Hi,
ReplyDeletewhat do you mean by negative close?
Thank you,
-ethe-
Negative close - red candle
ReplyDeleteEngulfing negative close - close below the previous 2 candle closes
Lower high negative close - in this case on the D chart would normally be a strong sell in the following days