UJ Small Analysis 11/07/17-11/08/17

First of take a look at this chart and pay attention to the deep pullback.

NB: A deep pullback is the way the pullback will end near one of the extremes of the swing your
observing…..
If you see a downswing a deep pullback will end towards the swing high, for an upswing it
will end near the swing low.
In our case, we saw a downswing and the deep pullback end towards the swing high as indicated
on the chart.
The reason a deep pullback takes place in the market is due to bank traders wanting to get
as many retail traders as possible placing trades in the wrong direction.
Now take a look at the M15 chart and see how the deep pull back looks like and also pay
attention to the candlestick that was formed.
NB: So the bigger the deep pullback is the more traders who will be either going long or
short depending on the previous trend, if all these traders are placing trades in the
direction of the pullback then when the market reverses and begins going in the other
direction the traders will be put at a loss on their trades, eventually their loss will become
so big that they have to close their trade, when they close their trade more orders will be
put into the market which will push the market in the direction of the reversal.
Reason why I’m waiting patiently to sell this pair. As @forex6god my mentor and brother will
say just Box and Chill.
Still a learner in this, as I’m still perfecting my craft, special thanks to @forex6god for all the
insights he provided to a brother like me. STUDY MORE THAN YOU TRADE!!!