EURUSD Forex market <\/h2>\n\n\n\nThe Weekly<\/em> EURUSD chart<\/h3>\n\n\n\n![\"EURUSD](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/EURUSD-Weekly-Low-2-at-Moving-Average-DB-or-Breakout-Mode.jpg\" "\\"\\"")
<\/a>EURUSD Weekly Low 2 at Moving Average, DB or Breakout Mode?<\/figcaption><\/figure>\n\n\n\n\n- The EURUSD<\/a> <\/strong>Forex market moved lower last week with a bear doji at the moving average (MA) in what could be breakout mode.<\/li>\n\n\n\n
- The bar before was the first bullish thing in many months – so we expected traders to sell it.<\/li>\n\n\n\n
- The bulls wanted a follow-through bar closing above the MA. This would scare bears from shorting, likely exiting above that bar. But now we have a sell signal.<\/li>\n\n\n\n
- The bar is small, which means low risk, so low probability. Most small bars make the market go above and below them.<\/li>\n\n\n\n
- If it’s not a good buy or a great sell, that’s 50\/50 and breakout mode in a trading range.<\/li>\n\n\n\n
- The week before, an outside up bar is a triangle on a lower timeframe. So, it was not a high probability long there. But it does mean limit order traders are likely below the low and in the sell zone of that bar.<\/li>\n\n\n\n
- Traders expected 2 legs sideways to up, a correction back to the MA after such a tight channel and possible wedge bottom. We may have already completed it.<\/li>\n\n\n\n
- 11 consecutive bear bars is a streak and climactic. It might mean that the correction needs to be about half of that structure – so 5 or so bars – so a few more weeks before the market picks a direction.<\/li>\n\n\n\n
- We are no longer always in short, so better to be long or flat.<\/li>\n\n\n\n
- Swing bulls who took a chance on the inside bar got 1:1, so we might have a magnet above the high of that inside bar to test down and then move back up.<\/li>\n\n\n\n
- Can you sell the bear bar? <\/strong>It’s difficult because it first triggered buys above the bull bar. The bears have also had tails below for many weeks, which means scalping. <\/li>\n\n\n\n
- Some traders will buy below that bar, betting it’s a weak sell and scale in lower, but most traders should not do that. A better buy would be to wait for another bull bar above the MA and buy that for a swing.<\/li>\n\n\n\n
- Some bears got stuck at the low of that outside bar, so they might get a chance to break even, which is a little lower down.<\/li>\n\n\n\n
- Expect sideways to down next week. <\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> EURUSD chart<\/h3>\n\n\n\n![\"EURUSD](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/EURUSD-Daily-High-2-Above-MA-Middle-of-Broad-Channel.jpg\" "\\"\\"")
<\/a>EURUSD Daily High 2 Above MA, Middle of Broad Channel<\/figcaption><\/figure>\n\n\n\n
<\/a>- \n
- The EURUSD<\/a> <\/strong>Forex market moved lower last week with a bear doji at the moving average (MA) in what could be breakout mode.<\/li>\n\n\n\n
- The bar before was the first bullish thing in many months – so we expected traders to sell it.<\/li>\n\n\n\n
- The bulls wanted a follow-through bar closing above the MA. This would scare bears from shorting, likely exiting above that bar. But now we have a sell signal.<\/li>\n\n\n\n
- The bar is small, which means low risk, so low probability. Most small bars make the market go above and below them.<\/li>\n\n\n\n
- If it’s not a good buy or a great sell, that’s 50\/50 and breakout mode in a trading range.<\/li>\n\n\n\n
- The week before, an outside up bar is a triangle on a lower timeframe. So, it was not a high probability long there. But it does mean limit order traders are likely below the low and in the sell zone of that bar.<\/li>\n\n\n\n
- Traders expected 2 legs sideways to up, a correction back to the MA after such a tight channel and possible wedge bottom. We may have already completed it.<\/li>\n\n\n\n
- 11 consecutive bear bars is a streak and climactic. It might mean that the correction needs to be about half of that structure – so 5 or so bars – so a few more weeks before the market picks a direction.<\/li>\n\n\n\n
- We are no longer always in short, so better to be long or flat.<\/li>\n\n\n\n
- Swing bulls who took a chance on the inside bar got 1:1, so we might have a magnet above the high of that inside bar to test down and then move back up.<\/li>\n\n\n\n
- Can you sell the bear bar? <\/strong>It’s difficult because it first triggered buys above the bull bar. The bears have also had tails below for many weeks, which means scalping. <\/li>\n\n\n\n
- Some traders will buy below that bar, betting it’s a weak sell and scale in lower, but most traders should not do that. A better buy would be to wait for another bull bar above the MA and buy that for a swing.<\/li>\n\n\n\n
- Some bears got stuck at the low of that outside bar, so they might get a chance to break even, which is a little lower down.<\/li>\n\n\n\n
- Expect sideways to down next week. <\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> EURUSD chart<\/h3>\n\n\n\n
<\/a>EURUSD Daily High 2 Above MA, Middle of Broad Channel<\/figcaption><\/figure>\n\n\n\n