GU Short Trade:
Entered short, a Scout based on the MMs having pushed up the price, above the whole number, with high volumes appearing on M1 while price is above the whole number. Also, this rise is baseless except for the upcoming USD release. So, it may well be the MMs are simply hiking the price to load up on shorts, fully intending to run the price back down later, regardless of what is released. We'll see.
This could go higher, especially if the MMs are bears. When the release hits, they could (have done many times before) drive prices higher in order to wipe out others before reversing the price later and starting a MARK DOWN run.
The inverted H&S formation on the Day chart has a target about 90 pips higher. What a whipsaw that could make! So, if price does whip up that far after the release, I'll likely add another Scout short up there.
Entered short, a Scout based on the MMs having pushed up the price, above the whole number, with high volumes appearing on M1 while price is above the whole number. Also, this rise is baseless except for the upcoming USD release. So, it may well be the MMs are simply hiking the price to load up on shorts, fully intending to run the price back down later, regardless of what is released. We'll see.
This could go higher, especially if the MMs are bears. When the release hits, they could (have done many times before) drive prices higher in order to wipe out others before reversing the price later and starting a MARK DOWN run.
The inverted H&S formation on the Day chart has a target about 90 pips higher. What a whipsaw that could make! So, if price does whip up that far after the release, I'll likely add another Scout short up there.