Stop run spells large sell orders sitting in the market
The euro did take out the highs, but the key was that they sold it back down again, ie ran the stops.
Would expect rallies to be sold into and that price ultimately tests the large bullish tails at the bottom.
(If price once again takes out the highs at 355ish, we can expect a larger move to the upside + the longer time we spend in this range, the more likely we are to turn bullish, so key to this short is that it happens within a couple of days)
Would expect rallies to be sold into and that price ultimately tests the large bullish tails at the bottom.
(If price once again takes out the highs at 355ish, we can expect a larger move to the upside + the longer time we spend in this range, the more likely we are to turn bullish, so key to this short is that it happens within a couple of days)