Disliked{quote} 17 hrs & 80 pips later.. told cha.. 1.592x & 1.6 big range.. big news in 1.5hrs time.. I think it has downward pressure from now on.. Sonic {image}Ignored
Yes, definitely bears on this one, but bears building positions. Hence, only ranging, probably at least until the US debt ceiling issue is resolved. Meanwhile, up in the range to suck in longs for liquidity for shorting, and down in the range as they exhaust liquidity for shorting at the highs and have to drop the price to keep adding shorts. Of course, the MMs could also head fake beyond the existing range, too. But there is no reason for them to start running for profits while they have reason to hold off doing so, which gives them more time to build.
The range is a good 100 pips though, so conceivably setups in either direction can still occur.