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EURUSD DAILY WED OCT 10 2018 @12 43 PM

We can see a perfect example of manipulation in this pair…  Notice how yesterday’s candle spiked up hard after a deep down move… That bounce up yesterday closed up near the open of the candle to trap all the retail shorts.  Price did not bounce up off of any support level.  No… because if it had, the shorts would have been able to exit at support for profit.

The game is this…  spike it down to draw in shorts.  See, lots of shorts got in on the breakout below support yesterday only for price to close back above support at the close of the day…  If we look at the most recent weak candle, we can see that the last 4 candles have closed inside the range of that bar… That is mother… She is a range bar.  Range bars are covered in the Lcm book as well as videos on inside bars.  So, I don’t have to go into what a mother bar/range bar is and how to trade it.

Now that the technical aspect has been covered, the fundamental situation is as I explained 2 days ago.  Retail traders are net short.  If you don’t know what that means by now you don’t want to know…

 

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4hr EURUSD MON OCT 8 2018 @ 8 28 AM

Last candle took out strength.  But, price is still testing bottom support. Bias is down but, that does not mean the timing is right for a short entry.  Even though we have a valid signal, we don’t short at support.  Especially swing support where we are currently…

 

EURUSD WED OCT 3 2018 @ 7 49 AM – DAILY CHART W/WEEKLY SUPPORT/RESISTANCE

Price is currently at weekly major support level.  Looking for a close on strength above the support level for a long play or a close below support on weakness to set up a short play...

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EURUSD WEEKLY MON SEPT 17 2018 @ 8 42 AM ( 12 42 )

Last week closed on bull strength.  Therefore, the weekly bias is bullish.  That means that buy signals should be your bias on the lower time frames…

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0 EURUSD WK sup res mqllock SUN SEPT 9 2018

 

BREAKINS EURUSD FRI NOV 17 2017 @ 7 20 AM