Disliked
However what IS interesting is what he (perhaps wisely?) did not/will not say.Ignored
I guess i'm kind of biased because of my research and experience BUT i believe its kind of common sense when you understand how market move.
There is only understanding, which involves understanding why markets exist and who they truly exist for. Markets exist to make money. Institutions and people with insight into the mechanics of markets make money. How they make money is by understanding price action.
When an institution or firm (or people with intentions and more money than we do) place a order or a series of orders based on a decision they defend it heavily. This is what a price action trader looks for. They want to determine what the people with more money and market "power" are doing.
Lets focus on Fridays Charts to Hone in on when im trying to Say.
Okay the Eur/usd have been rallying since 5pmish EST on the 25 of march.
So here is the scoop a lot of smart, rich and and or rather ballsy people made a very big investment and prevailed to support it around the 1.32666 area. They kept defending it till eventually the sentiment was that this is now a time for buying.
This picture shows all the times they (the smart rich and ballsy people) supported their original entry with the help of smart day traders who also bought when they supported their original entries.
The same thing occurs on a small scope like friday for instance.
So all the smart traders know that this has been heavily supported serveral times for a day or so...so the smartest thing to do would be to wait for a counter trend move to fail.
So the day started off basically in a down trend most smart traders sat and waited for a break of the bull trend line that was projected from the start of the trend it was broken at 930 or so but when the bears tried to move it further below the old low the strongest market powers prevailed once again. They bought up all they could and turned the market around. First clue for the day that no new lows would be accepted and today was a rally day.
So through out the day every single low marked with a horizontal line has been defended which is where we as smart price action traders would hop in and ride the flow of bear traders covering their losses (buying).