A whipsaw effect where we continue the sell-off into the abyss before pulling up it's pants and firing off in the opposite direction, catching short sellers with their pants down is what i am expecting to play out in price action going into next week.
Brutal.... Yes but, how can you deny the US dollar from being a safe haven??
USD IS the currency of the world!
During election years, it's always in the best interest of those who chose to stay behind closed doors to pump the price of their currency to increase the perception they re trying to sell.
Going into next week, expect Tuesday, Thursday and Friday to be the most volatile days as these are the days with the most amount of high-impact news.
Brutal.... Yes but, how can you deny the US dollar from being a safe haven??
USD IS the currency of the world!
During election years, it's always in the best interest of those who chose to stay behind closed doors to pump the price of their currency to increase the perception they re trying to sell.
Going into next week, expect Tuesday, Thursday and Friday to be the most volatile days as these are the days with the most amount of high-impact news.
Trade closed: stop reached
Dollar presented risk on conditions, as expected but continued to sell off into a discount array.Unless i see low resistance liquidity run to attack buyside, my bullish bias is dead.
Still, these are very good times to learn from the mistakes made and come back stronger!
Note
102.106 is my updated weekly bullish target if we are to see a retracement from the daily volume imbalance outlined in red.Risk off conditions would enable stock indexes and FX pairs (especially denominated in USD) to sell-off
Note
Note
Price action for this week
UK, London
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
UK, London
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.