PVSRA: GBPJPY, Bulls or Bears?
Yeah, I know. The "Bulls" are right now saying "I told you so." But do not dispair, shorts. This is but yet another push up by the MMs to suck in longs, stop out shorts,....for the MMs to get liquidity for their own short building. If you don't believe it, all you have to do is look at the volume on M1. It clearly shows how the MMs took advantage of available liquidity for shorting on the hike up thru the half number, and then again up thru the upper whole number. Those are two places longs normally have their pending orders sitting....."if it's bullish enough to break up thru here, it is bullish enough for me to place a pending long order here...."....such is the logic. And the MMs just took advantage of it.
Now the MMs have the price nice and high for next week. And maybe they even tweaked the spirits of longers that might supply more liquidity for shorting up here when the new week begins.
We cannot know how the price will move next, but a small manufactured retrace or a big manufactured retrace, this is but a manufactured retrace in a new down trend, manufactured by the MMs for their short building.
I have taken advantage of this opportunity to add to my short trade, and will continue to do so.
-tah
Yeah, I know. The "Bulls" are right now saying "I told you so." But do not dispair, shorts. This is but yet another push up by the MMs to suck in longs, stop out shorts,....for the MMs to get liquidity for their own short building. If you don't believe it, all you have to do is look at the volume on M1. It clearly shows how the MMs took advantage of available liquidity for shorting on the hike up thru the half number, and then again up thru the upper whole number. Those are two places longs normally have their pending orders sitting....."if it's bullish enough to break up thru here, it is bullish enough for me to place a pending long order here...."....such is the logic. And the MMs just took advantage of it.
Now the MMs have the price nice and high for next week. And maybe they even tweaked the spirits of longers that might supply more liquidity for shorting up here when the new week begins.
We cannot know how the price will move next, but a small manufactured retrace or a big manufactured retrace, this is but a manufactured retrace in a new down trend, manufactured by the MMs for their short building.
I have taken advantage of this opportunity to add to my short trade, and will continue to do so.
-tah