EU M1 Chart: From where the PA was around the time of the last two relative volume hikes, it looks to me the US traders were signing off with "...ok, we got some good prices on those last shorts..." Now, Deadsville until the asian traders come on board. The PA is a lot higher than when they last signed off, so they may have an interest in knocking it down a peg or two....and THAT will make the US traders some money! Just speculation, for all I know the US traders could have gone long at the highs......? Volume is very light as the PA drifts higher now. Could it be there is one more attempt at high volume shorting coming up?
Edit: 2nd chart. Yep, that is EXACTLY what someone was doing (imho)....a relative volume hike at the top of the PA and a follow-up hike as the PA began dropping under the weight of someone's shorting.....getting the rest of the shorts on, before the PA dropped too much.
Edit: 2nd chart. Yep, that is EXACTLY what someone was doing (imho)....a relative volume hike at the top of the PA and a follow-up hike as the PA began dropping under the weight of someone's shorting.....getting the rest of the shorts on, before the PA dropped too much.