DislikedA classic example to watch euro. How algo steal the position when public go excessive long.. Squeeze system and keep the price lower to attract bulls.. Then the chopping starts slowly and blow their account.. Watch gbp usd.. The opposite process happens... Push price high and invite bears to short and finally push price higher and higher and stop out and steal their money... Moral... Never buy seeing lower price.. It is trap set by robber banks using their algorithomIgnored
You are right, a trader should never place trades by just seeing price going lower/higher. Its a trap.
I noticed that MMs play their role in EU but they didn't dare to bother GU as compare to EU (see the pics below).
I also consistently noticed that EU and UY flow in opposite directions (see the charts below).
So, occasionally I like to trade Euro and Yen same time but different directions.
Anyways, Happy New Year 2021 to