Looks similar to the EUR. Its early in the week so it may need a day to get moving. I wouldn't be surprised if it ripped to the upside with the pressure being this low. That last trend does appear tp have had some buying into which might xplaiini the abrupt up move.
How many retail traders do you think are now holding the bags who were in short positions?
At the very least and as far as I see it. that RSI needs to be below the centerline before entering long. There is no reason to rush and risk being in a bad position.
The market comes moves in waves. Its okay to miss moves if you aren't feeling confident. The worst thing you can do is enter a position and HOPE it works out. HOPE has broken many traders. It is always better to wait if you are unsure. It will come back.
How many retail traders do you think are now holding the bags who were in short positions?
At the very least and as far as I see it. that RSI needs to be below the centerline before entering long. There is no reason to rush and risk being in a bad position.
The market comes moves in waves. Its okay to miss moves if you aren't feeling confident. The worst thing you can do is enter a position and HOPE it works out. HOPE has broken many traders. It is always better to wait if you are unsure. It will come back.