nice candle...
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- #53,842
- Edited 9:56am Jul 17, 2013 9:44am | Edited 9:56am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #53,843
- Edited 10:29am Jul 17, 2013 10:11am | Edited 10:29am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #53,845
- Edited 10:31am Jul 17, 2013 10:21am | Edited 10:31am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #53,847
- Jul 17, 2013 10:47am Jul 17, 2013 10:47am
- Joined Oct 2012 | Status: Trade Small, Win Big | 4,988 Posts
{quote} You keep using EJ for your argument and at the same time you are building in UJ (as far as I know). MMs did not hike yen pairs, they hiked EU, GU and AU and in consecuence EJ, GJ and AJ rised. However, UJ 'spent the week' as you said, dumping the price and looking for more attractive prices to long. If you look at the images, you will see my point of view. Like you said, there is no more Yen important releases this week, so we will have another week with the xxx/JPY being driven by the dollar, not the yen (unless there is a unexpected event)....
The "church" may declare you a heretic!
If you are good at something, never do it for free--Joker
- #53,848
- Jul 17, 2013 10:57am Jul 17, 2013 10:57am
- Joined Oct 2012 | Status: Trade Small, Win Big | 4,988 Posts
If you are good at something, never do it for free--Joker
- #53,849
- Edited 11:14am Jul 17, 2013 11:00am | Edited 11:14am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #53,852
- Edited Jul 18, 2013 3:07am Jul 17, 2013 11:40am | Edited Jul 18, 2013 3:07am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #53,853
- Jul 17, 2013 11:43am Jul 17, 2013 11:43am
Hi guys,
Recent interesting move in UJ on the M1. We can see we are currently in consolidation between the half and quarter levels. There is a HUGE volume near the bottom. So why is this? Well, if we consider this a break-out lower, then most traders are selling, which implies the MM are buying up their orders to prevent price from going too low (ruining their building shorts at higher prices).
The other explanation is the MMs selling to all the buyers who think the prices is reversing, which is unlikely as it's just a retrace to the quarter resistance level. The retrace cannot be so large from previous wave.
Thus, I think the MM's have just stopped a true break-out to keep prices high to build more shorts. As they are near 100.0 level, it's a great place to build more shorts since it's the best price for a move down (also what we'd like to call the triple zero fade-away). From past history, we've hit the triple zero over 3 times and failed already so it's a major resistance.
This further confirms that MM's are Bears for UJ.
Let me know what you think.
Recent interesting move in UJ on the M1. We can see we are currently in consolidation between the half and quarter levels. There is a HUGE volume near the bottom. So why is this? Well, if we consider this a break-out lower, then most traders are selling, which implies the MM are buying up their orders to prevent price from going too low (ruining their building shorts at higher prices).
The other explanation is the MMs selling to all the buyers who think the prices is reversing, which is unlikely as it's just a retrace to the quarter resistance level. The retrace cannot be so large from previous wave.
Thus, I think the MM's have just stopped a true break-out to keep prices high to build more shorts. As they are near 100.0 level, it's a great place to build more shorts since it's the best price for a move down (also what we'd like to call the triple zero fade-away). From past history, we've hit the triple zero over 3 times and failed already so it's a major resistance.
This further confirms that MM's are Bears for UJ.
Let me know what you think.
insanity: Doing the same thing over... and expecting different results -AE
- #53,854
- Jul 17, 2013 11:47am Jul 17, 2013 11:47am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
I hate this stressfull situations. still believe in bearish trend. low volume, strong rising. {image}
Now, in the off hours of the market when it is easier for the MMs to manipulate prices to where they want them to be, the MMs are pushing the price up and increasing their trading as they get the price higher.
- #53,856
- Edited 12:11pm Jul 17, 2013 12:00pm | Edited 12:11pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #53,858
- Jul 17, 2013 12:19pm Jul 17, 2013 12:19pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
