DislikedAUDUSD Comment Sonikers, The current bear swing of this pair is already 750+ pips, and now the MMs are ranging it - moving price up and down - which is what they do to finish closing shorts and build long. The chart attached shows heavy LS activity today. The PA waves are bullish. And the bullishness started with a trip below the half number on notable volume. Early in the coming AS there is a high impact release. Right now, the MMs are retracing the price, but that might be only part of their strategy to build long, if that is what they are doing....Ignored
Sonikers,
The new AS has begun. The AUD high impact release is about an hour away. On the attached M5 chart we can see the AS MMs pretty much started buying it up on increasing volume right off the bat! The question remains if there will be a pullback - a stop hunt of longs - before any bull run truly gets underway. Personally, I have opened this trade now, and intend to add if the MMs sufficiently lower the price again. They might use the remaining time to the release to hold the price up, but without a breakout, to suck in longs and then stop hunt those longs before they execute a breakout. And even after a breakout - if there is one coming - they could also do a later stop hunt of longs. We can never know how they will move price.
-tah
Edit: AUDUSD Long Trade Update
The AS MMs did pull the price down before the breakout. I added. Now, following the breakout, they have retraced the breakout move somewhat. I have added again. From this point forward, we cannot know how the price will move. What we do know is that the price is still very low in the 750+ pips bear swing down, and that all the MMs have by now had their chance at the lows to close their shorts and start opening longs. No TP/SL at this time.
Edit: AUDUSD Long Trade Closed
Closed for gain of 18.7 pips average, 560 pips total. This DR1 level could be a place where the price move halts and the MMs work the price back lower into the LS. Cannot know. I decided to take profit and wait and see.