Mate I know some people don’t like TA or charts.. but I can back up what you have said here with my analysis from today’s close..
When I posted my last chart I didn’t see the bear trap, and from other posters information here I can see now it was euroz offloading.. Now the reason why I feel it’s a bear trap, is that retail punters were shaken out as well.. you can see this all playing out in the course of sales over the last week of trading sessions..
I would speculate one or two of those other top20s have been soaking and I wouldn’t be surprised if we may see a disclosure +-1% popping up in the next week of sessions..
The entry signals are still solid and you can see the macd starting to converge back towards the signal line, the sentiment is starting to shift towards positive and we re-entered a squeeze condition.. I feel the 14-14.5c trading is the bottom..
I agree with you on the volume being flushed out and it’s nearing the end.. another few trading sessions should see the last of the offloading and a new pattern form..
The other elephant in the room is global, gold cfds and US argy bargy.. but that’s all about to come to a head shortly.. even the gold cfd chart is repeating the last 4 patterns from when the cycle coughed in circa early 2019..
All in my opinion of course
FFX Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
