GU:
The PA-Volume study shows repeated examples of buying into lows and coming off of lows, which I have marked. Essentially, this has the look of consolidating below a SR level (top of rectangle), in preparations for a break up thru that SR level. No single WAVE stands out, but there has been a string of higher lows and higher highs thru this consolidation time.
There is a high impact GBP release coming up, which might be a catalyst. Four hours later there will be a high impact USD release. So, one senario is that the GBP release triggers the move on up, with 4 hours for the PPMs to unload the longs into the top of the drive up and spend the rest of the time acquiring a short position.
WARNING: Speculation!
Edit: Added 2nd chart, an M1 chart showing that just 3 minutes before the release, the PPMs torpedoed the price on high trading. They were taking out stops on the trades of others that had too tight of a SL, increasing liquidity and making those long trades become their own! The downside pressure is coaxing longs to cave in and give up their positions to the PPMs, as the volume builds at the lows around the whole number.
WARNING: Speculation!
The PA-Volume study shows repeated examples of buying into lows and coming off of lows, which I have marked. Essentially, this has the look of consolidating below a SR level (top of rectangle), in preparations for a break up thru that SR level. No single WAVE stands out, but there has been a string of higher lows and higher highs thru this consolidation time.
There is a high impact GBP release coming up, which might be a catalyst. Four hours later there will be a high impact USD release. So, one senario is that the GBP release triggers the move on up, with 4 hours for the PPMs to unload the longs into the top of the drive up and spend the rest of the time acquiring a short position.
WARNING: Speculation!
Edit: Added 2nd chart, an M1 chart showing that just 3 minutes before the release, the PPMs torpedoed the price on high trading. They were taking out stops on the trades of others that had too tight of a SL, increasing liquidity and making those long trades become their own! The downside pressure is coaxing longs to cave in and give up their positions to the PPMs, as the volume builds at the lows around the whole number.
WARNING: Speculation!