GU Comment:
I remain bullish on this one. There is no H&S formation for this to complete, as with EU. I am bullish on this one simply because it has had the crap beaten out of it!
On H4 it is very clear that since the strong drive down about eight days ago, the biggest volumes come in when the price hits the lows. So, this is an indication the MMs are bulls, but are working the price up and down to build their new long positions. Maybe even to finalize closing their shorts. Either way, the MMs need shorters. They need shorters to pass their shorts off to, and they need shorters so they can build their long positions.
And the market makers are not stupid enough to just willy nilly take the shorts from Big Money, and the short side of all the long orders being placed by Big Money! So, they are working the price up and down now, trying to sucker in unsuspecting traders on the short side. When the they run out of such suckers, and the Big Money long orders are still not completely filled (and maybe even their shorts are not completely closed), this will start moving very well to the upside.
-tah
I remain bullish on this one. There is no H&S formation for this to complete, as with EU. I am bullish on this one simply because it has had the crap beaten out of it!
On H4 it is very clear that since the strong drive down about eight days ago, the biggest volumes come in when the price hits the lows. So, this is an indication the MMs are bulls, but are working the price up and down to build their new long positions. Maybe even to finalize closing their shorts. Either way, the MMs need shorters. They need shorters to pass their shorts off to, and they need shorters so they can build their long positions.
And the market makers are not stupid enough to just willy nilly take the shorts from Big Money, and the short side of all the long orders being placed by Big Money! So, they are working the price up and down now, trying to sucker in unsuspecting traders on the short side. When the they run out of such suckers, and the Big Money long orders are still not completely filled (and maybe even their shorts are not completely closed), this will start moving very well to the upside.
-tah