The shared currency advances during the New York session, taking advantage of a soft US dollar, which is falling despite US bond yields rising, ahead of the release of July’s US inflation figures. Alongside the aforementioned, risk-aversion keeps safe-haven peers in the driver’s seat, except for the greenbacks vs. the euro. The EUR/USD is trading at 1.0216, above its opening price but below its daily high, reached during the day at 1.0247. Nevertheless, buyers could not hold the fort or booked profits with US economic data looming. US equities are trading with minimal losses. A light US calendar keeps investors ... (full story)
Joined Mar 2008
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Status: PVSRA with Traderathome
|1595 Comments
Actually, the MMs have good control over price. They are cycling it up and down to help them create liquidity. The market is all about liquidity to fill orders. We know this! So, all is going as we should expect.
The analysis traders want is not something they know should be happening and that they can see with their own eyes.
The "news analysis" ignores volume. But volume can bring to the analysis something that nothing else can bring......WHERE BIG MONEY HAS A PLAY TO ENTER OR EXIT and that THE MMS ARE CATERING TO by controlling price (moving it up and down) to create liquidity to fill those SM orders.
And we can see from the chart today that the MMs pumped price to fill orders.......HTMRW.
And we know the sensible thing to do in trading is to........Buy low, sell high!
And, of course, selling high does not have to be an "exit". It can be the opening of a "short" position. Heck, it can be both the closing of short term "longs" (selling) AND the opening of possibly a longer term short position (selling)........
Well, we can never know the sequence of distances and directions the MMs will move price to cater to SM business for the big commissions. But this is definitely not just wandering around waiting for something to happen.......