Big candles look bearish, but faster timeframes are actually very choppy... No real momentum, this is going to reverse back up Our favourite controversial tool is saying the party will be for bears' expense

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I agree, these don't work as entry signals, but the stats are still useful in giving unbiased information about the current environment

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Currently the RSI area (the part above 70 summed up for each candle) is at 77.70, which is at 94th percentile of all data since 2009, biggest area being around 150 and majority being around 10.

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H4 RSI is begging for some profit taking. Let me make some statistics of the overbought area...

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Shouldn't ever chase the price.

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Your analysis has been spot on for a couple days now. Appreciate your insight! Here: url

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Phew that took its time E: sorry H1

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shhh... wait... listen that faint grunt... something woke up at 1.134

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With 88% of MyFxBook being short, there is no way this thing is going down without a shake-off first

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I'm along the same lines.. On the other hand, a shift in US monetary policy would be the perfect excuse to break that trend line.

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Setting up a bull continuation for London open...

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Everyone is expecting a correction = there will be no correction. One more push above 1.131, then we will have divergence on M30 oscillators, then we can finally bring it down.

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Daily candle touching 144-EMA, a dynamic resistance since May 2018.

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A fancier way of saying "engulfing candle", perhaps?

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Perfect for fishing the dumb money out lol

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Powell practically says that cutting the rates would be premature at this point. Lets wait for this to sink in. And EU to sink as well.

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Nothing unexpected. If anything, its less dovish than expected. We will be back at the begin soon

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61% reversal suggesting bear continuation. A bear day would also make sense in fundamental setting: markets are expecting a super dovish fed, there is no way they can deliver - let alone exceed the expectations, which is the only reason this would ...

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Some basics: a strong currency is not "good" like, say, strong stock price is "good". A weak currency is what every central banker aim for.

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You should buy a 4th monitor, profits will rise 25% Just kidding lol

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