This past week the market in most pairs has been moving very strongly in one direction. Nearly all pairs are over extended and due decent pullbacks. As we know price does not go straight up or down and has to retrace at some point.
When the market does move back into some value areas is the time to pounce and get into some solid trades in the direction of the momentum. This post is more of a warning to traders to don’t get caught out shorting at the bottoms of moves or going long from the top. Buy low and sell high, and sell high and buy low!
EURJPY DAILY CHART
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