Tricky setup. On the one hand a rising wedge breakout is looming, which would be substential, on the other hand the recent upmove does also look as a channel and we are between to highly significant horizontal resistances (~1.2180 and ~1.2213). ...

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Sold a few longs as well, the move yesterday got me scared.

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man your arrow direction just changed by nearly 180 degrees

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Many thanks. And if 1.2180 does not support you would close it at 1.2175? What about the long term rising trend line at 1.2160, don‘t you expect a rebound from there to at leasr 1.2180 again?

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Hey Traderview, in case you are still online - at which level are you looking to sell tomorrow?

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I think max recovery could go to 1.2220 before we test 1.2160 area, though it might go down there right away.

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Anyone still bullish if this H4 closes above 1.2205 or so?

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retail short ratios are falling below 60%, guess that's another bad sign for the bulls. seems the wedge on the daily is breaking out.

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What a bummer, those selloffs go really quick

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Maybe this?

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I mean it is pretty cool - I have never heard a conversation starting like this: „Hey, how are you?“ - „I am calm“

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Hey man, what’s your purely fundamental view?

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seems bulls are gone

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I don't know, maybe 1-dollar bills will soon be used as toilet paper.

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Personally I think there will be one more round up to squeeze some more of these retail shorts.

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In which case the 65% of retail traders who are short would make windfall profits.

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Agree, below 1.2219 we would drop at least 60 pips

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1.2237 is a buy opportunity

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A valid question during Covid times

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