DislikedI dont know what is maybe traders preparing new short positions??Ignored
I don't believe anything has changed to alter the hypothesis that the price is being pumped again and again, after heavy shorting again and again. I still believe this is all part of building short positions ahead of a VERY nice new down trend. Meanwhile, the PPMs need to continue to attract in long buyers to create the liquidity necessary for the PPMs to be able to get short orders filled without driving the price too low. As buyers come in to help with the pumps, the PPMs take the short side of the trades.
I believe eventually the rug will be pulled out, and that this will suddenly and dramatically drop.....at least 200+ pips just for starters. But, this is just all my opinion.
As far as SonicR goes, we should just trade what we see because sometimes there are perfectly good SonicR setups in both directions midst all the manipulations.
As for this current spike up, PA only reached the FR 38% level so far, which is not anywhere near enough to change opinions. It is very likely the PPMs have just reset the price to the high ground again for another round of shorting ahead of the USD Medium Impact release in about 2 hours, and the two GBP High Impact releases tomorrow.
Clearly on the H4 chart PA is demonstrating now lower highs and lower lows. And the Dragon has already rolled over. The moves upwards are to the top of a descending channel, and represent efforts by the PPMs to keep the price from breaking out downwards before they are ready for that to happen. The potential for a huge initial move down exists. The PPMs want to be fully loaded up with short positions before they let that happen. And, in order to get short positions, they need to keep manipulating the price back upwards to coax other traders to go long....not only that, but also to keep encouraging existing longs so they won't start closing their positions! I believe it is just that simple.
WARNING: Speculation!