Tag: EURUSD

Emini High 1 bull flag at end of January, but late in bull channel
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Emini High 1 bull flag at end of January, but late in bull channel

Friday pulled back from another new all-time high going into the final week of January. Because it had a bull body, it is a High 1 late in bull channel buy signal bar. But Friday had a prominent tail on top, and the Emini is at the top of channels on the daily, weekly, and monthly charts. This makes it a weaker buy signal, and it increases the chance of more sideways trading again today.The bull channel has lasted more than 50 bars on the daily chart, which is a long time. That increases the chance of a break below the bull trend line and then a transition into a trading range. However, traders keep buying pullbacks, and they keep getting new highs. They will continue to buy until there is a credible top, or a surprisingly big reversal down.Overnight Emini Globex tradingThe Emini is ...