I can't stand it. To what looks like a long-term bullish type play, the bears are sure having their ways with this market as we speak at 9:38 am EST. Anyone have thoughts on why this is happening right now? My only assumption would be a large retracement from the high that was established this morning by the bulls.
What do you mean, you can't stand it? The EUR reversal was the easiest thing to spot this morning, at least for me. A nice candle reversal pattern on the 5min right at the upper trend line channel on the 240min - 8/6 high to 8/8 high. It sure appeared to be a bullish day but sometimes these things get broken out only to get smacked down.