EUR-USD is trending up, so the BlockchainStar felt that the 1.2440 level was a good point to take profit, utilizing the Trailing Stop, after a few days of holding on to a long position. Utilizing the Trailing Stop order removed the psychological factor. This was earlier this morning. However, things have changed drastically since then. The EUR/USD pair is trending upwards toward the 1.2480 level and beyond, possibly the 1.2500 level.
The profit-taking level of 1.2440 has quickly become an area of support, and the current correction and consolidation and baiting of the king fish traders (take whatever the Market Genie gives out, don't get too greedy because the Market Genie's gratitude will change fast, so convert the bait into a quick meal without allowing it to hook you like a fish on a fisherman's fishing rod).
The pair hit some moderate resistance at the 1.2470 mark, which was expected based on the 1 hour chart. A more defined illustration can be seen on the 10 minute chart where the view is enlarged. The long bullish green candle gave us the signal that a moderate reversal and pullback was eminent.
This kind of personality trait of the uptrend was visible as far back as 01:10am on January 31,2018. In fact, the pullback retracted as far back as the 1.2440 level, establishing a new temporary support area. The BlockchainStar is predicting that this area is just a temporary resting spot for the pair, and the uptrend will soon continue unleashing its wrath on the poor shorts that have continued to follow the bait of the Market Genie.
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