USDCAD
Is it possible this is on the verge of reversal? Well, maybe next week since the LS today has little time left to it.
Today the MMs pushed it to the upper half number, but you can see the most notable volume was coming back down from there. Wednesday, the MMs used the power of their "book push trades" to force the price up over 300 pips. My guess (all it is) is that they did so to force traders to accept the new, higher price area to do their trading in, while the MMs focused on closing out their longs. If the MM's "book push trades" up to the half number today did not disclose a shit load of eager longs, then the MMs are probably going to reverse the price. But with so little time left today, the MMs will probably continue their status quo until next week.
But, we can never know how the MMs will move price next.
Is it possible this is on the verge of reversal? Well, maybe next week since the LS today has little time left to it.
Today the MMs pushed it to the upper half number, but you can see the most notable volume was coming back down from there. Wednesday, the MMs used the power of their "book push trades" to force the price up over 300 pips. My guess (all it is) is that they did so to force traders to accept the new, higher price area to do their trading in, while the MMs focused on closing out their longs. If the MM's "book push trades" up to the half number today did not disclose a shit load of eager longs, then the MMs are probably going to reverse the price. But with so little time left today, the MMs will probably continue their status quo until next week.
But, we can never know how the MMs will move price next.