Let us check and verify analyses from this week:
In the analysis from 18.02 “EURUSD – Pin Bar can be a signal for a correction? ” I expected growths. I based my assumptions on the bullish pin bar in the day chart and the upward divergence that appeared in the H4 chart – “In the H4 chart the upward divergence appeared and it can be seen that the price crossed the local downward trend line, which can support the increases and is in line with the conclusions of the Daily chart analysis”.
Looking at the charts attached, we can see that the theory has overlapped with practice, and the market has chosen the direction of the analysis. Still probable a move north to the channel resistance.
The second analysis of the past week: “USDCHF – FOMC minutes can move the market – Bearish Engulfing also” was based on the Inside Bar formations and Bearish Engulfing (IB and BE). I wrote so: “We have two Price Action formations contained in one another: the Inside Bar created by a candle from February 11 and the Bearish Engulfing contained therein, which was created by yesterday’s bearish daily candle. It is worth paying particular attention to the latter formation, because it was created right after the bearish pin bar and gives a fairly strong sell signal.”
Looking at the charts comparing situations from the day when I wrote the analysis and now, i.e. after the closing of the markets, we can only state that strong sale has not yet taken place, the following sessions were extremely consolidated sessions with a range of about 30p. As I assumed falls, I opened orders each time the price returned to the OB, which allowed me to collect some pips at the end of the week, but I am still waiting for a strong southward movement.
This week I collected some more orders than last week: