The chart above explains.
When trading, it is BEST not to follow the crowd - do not go where the sheep flocks. Instead, think like how a MARKET MAKER would think.
As we can see, they are already in a Distribution Mode for months now. Yes, this entire process takes weeks/months to complete. I would continue to SELL along with them. And I do not think they will just switch mode to BUY all of a sudden. But if they do, I am ready in case price move above 1.1033.
Following the MARKET MAKER offers the best trades. Sell if they start Distributing. Buy if I see them Accumulating. This is one of the most important part of FX trading.
Good luck.
When trading, it is BEST not to follow the crowd - do not go where the sheep flocks. Instead, think like how a MARKET MAKER would think.
As we can see, they are already in a Distribution Mode for months now. Yes, this entire process takes weeks/months to complete. I would continue to SELL along with them. And I do not think they will just switch mode to BUY all of a sudden. But if they do, I am ready in case price move above 1.1033.
Following the MARKET MAKER offers the best trades. Sell if they start Distributing. Buy if I see them Accumulating. This is one of the most important part of FX trading.
Good luck.