After creating a lower low yesterday and retracing to this level, price has been pulling away from the highs that have been created. I am watching for volume to the downside.
Dollar Index has a bullish setups for another run up.
For EUR/USD, we have been in a tight range since start of Asia Bank Open. Since London opened, we have tested near the top of the range and the bottom of the range. Price is trading lower from the High of Session. After the most recent seller's strength candle, we see volume to the downside.
US GDP will be released early into New York Session. This move to the downside, during London, may only play out til End of Session.
Dollar Index has a bullish setups for another run up.
For EUR/USD, we have been in a tight range since start of Asia Bank Open. Since London opened, we have tested near the top of the range and the bottom of the range. Price is trading lower from the High of Session. After the most recent seller's strength candle, we see volume to the downside.
US GDP will be released early into New York Session. This move to the downside, during London, may only play out til End of Session.
Trade closed: stop reached
My stop was reached quickly after setting this short trade. I was too hasty into the session (too quick) to place a trade after the first volume candle. Looking back, I see the initial sellers candle into London being the "stop hunt." Waiting for price to retest the area could have avoided this early entry. Waiting for the next few candles would show equal Buyers' strength. 2 Morning Stars are seen on the 15minute candle at the lows of London. Note
The more I think about this trade I took last night. I was thinking movement to the upside after the Pinbar in London. It matches the exact pinbar that was given at the end of Asia. After the most recent price action showing sellers' strength, I was too quick to entry a trade. Because I had reversed my bias, I should've waited another 15-30 minutes (in this case, 30minutes). Specifically looking for a reversal of pressure. This was the second retest of the low of session for a long bias. I will be more patient my next trade. 8/29/2025 RCCNote
The next 15-30minute candle would have revealed the "sellers strength" was fake. It would have been the confirmation for a buy. This is hindsight, and there is progress to be made by me. I need to be more patient and reviewing my entry confirmations. It is okay to reverse bias based on Price Action. In the grand calculus of the trading verse, a small loss to catch the real move is truly moving with price action. Away with fear. 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.