DislikedQuestion to prof TAH Does this seems like the typical dump after LC? Because for me that is exactly what I see. Same in EU and AU. I will keep building my EU shorts and my UJ longs (even more sure after this pump). And I started to build AU short as well. Am I missing something? Because for me it's the typical bull pattern. {image}Ignored
There are times a "subjective" interpretation needs to be considered. When high volume comes in at the bottom of a drop, is it "stopping" volume, a possible sign of reversal? Or, is it just "stop the drop" volume, where the MMs "save" the price from further decline so it will be easier for them to resurrect the price upwards and resume heavier shorting at higher prices?
And so we need to look at other TFs up from the M1, to see if there are "quantitative" clues to back "subjective" indications. Here, on H1 we do have a clear PVSRA indication the MMs are bears. The last red bar was MMs pushing price back above the half SR and trading heavily at attained highs (which can be confirmed by looking back on the M1 chart). Also, we see this strike up retested the TL I have drawn. We are smart enough by now to know that "retests" are just deceptive words that mean the MMs went back up to get more short orders filled. So, put all this together and the conclusion the MMs are bears is quite reasonable.