It is just MMs price manipulation to accumulate more short orders. With still about a day before NFP there is lots of time to accumulate more short orders, now back at higher prices. The MMs sucked in a lot of longs and stopped out a lot of shorts, all to get liquidity for their own shorts. It is as simple as that. This is a good example of why risk to reward ratio trading is a flawed concept that doesn't work. Spikes like this are a common way for the MMs to load up for the same short trade that so many others are in. And a spike like this does not invalidate the trade, no matter that SLs are hit. It validates the trade and invalidates the use of SLs the way most use SLs!
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