Market Comment:
Something very unusual has occurred, or is occurring in the market. After browsing charts of AU, EU, GU, AJ and EJ it became appparent that as this new session gets underway for the mid-week Wednesday action, all these pairs (and maybe others) have RDH very close beneath RWH! I cannot ever remember this happening before. And it is even more interesting that it is happening mid-week, which leaves the market plenty of time to take advantage of this. This smacks of a plan in the market to ram prices to RWH and beyond before the week is overwith. And why would the market ram prices up with such "free-for-all" and across the board moves that take out many weekly average ranges? Is the rest of this week going to be frenetic price manipulation by the MMs (Market Manipulators - I refuse to call them SM- Smart Money, as they don't deserve it) to vacate remaining longs and go short? Well, this is speculative. Oh, not the relationship between RDHs and RWHs, because that is there for all to see. But it is speculative as to if MMs are going to push lots of stuff thru the ceiling, as if this might be their last good opportunity to do so. We'll see.
Having observed this, I remain without a bias because each trading day is unique in that price moves do not have to abide by anything other than what the MMs decide will make them the most money, up or down, or both. Proper wave analysis and awareness of S&R is the focus,....every day.
Something very unusual has occurred, or is occurring in the market. After browsing charts of AU, EU, GU, AJ and EJ it became appparent that as this new session gets underway for the mid-week Wednesday action, all these pairs (and maybe others) have RDH very close beneath RWH! I cannot ever remember this happening before. And it is even more interesting that it is happening mid-week, which leaves the market plenty of time to take advantage of this. This smacks of a plan in the market to ram prices to RWH and beyond before the week is overwith. And why would the market ram prices up with such "free-for-all" and across the board moves that take out many weekly average ranges? Is the rest of this week going to be frenetic price manipulation by the MMs (Market Manipulators - I refuse to call them SM- Smart Money, as they don't deserve it) to vacate remaining longs and go short? Well, this is speculative. Oh, not the relationship between RDHs and RWHs, because that is there for all to see. But it is speculative as to if MMs are going to push lots of stuff thru the ceiling, as if this might be their last good opportunity to do so. We'll see.
Having observed this, I remain without a bias because each trading day is unique in that price moves do not have to abide by anything other than what the MMs decide will make them the most money, up or down, or both. Proper wave analysis and awareness of S&R is the focus,....every day.
