EURUSD

They are happy to hit out at stops.

lol, if CB's push that buy button anymore it might just catch on fire

time to short hard
no IMF payment tomorrow
TP 1.1074

1208 - 140 pips above adr

how many years is that?

Greece just sent them a bailout package of new buttons as part of their agreement.

maybe it did catch on fire and now it's stuck down

362 pips and counting

Paid for with the money lent to them...

Short ej 137.369, sl 137.399

I guess till EUR/CHF is not above 1.04 we will see this pushing up...it should not pass the Weekly pivot 1.1236 today, but nothing is impossible in Fx. Till now it was stopped at yesterday Daily High 1.1219. On the other side, there are too many sellers.

250 pips up and bear was calm
Not a street buyer but anything from EZ official I guess.

as always well done

me too +1000 pips & counting

Even it's not caring the setback UTL in mid term bear. Last hour washed it in one shot which started below 1.10

good stuff yeah. at least i did cover the sunday and late sunday shorts, plus early morning stuff. here at 137,1 with BE looking to cut if no go
at least i was gentle with EC..just added a bit moo. nuff for td on this one

?

All that happened was that some people had put stop losses in place before or during the weekend. So market gapped down, took out the stops (the market goes to orders that are nearby, regardless of what's in the charts) and as those people weren't around, proceeded to squeeze the new shorts (new to market makers) resulting from those stop loss executions at the bottom (end of gap). Then more people thought it was good idea to short (or they were covering longs). It's likely that if the move up continues, the longs above will be also selling to get out and helping the move up. Later herd will either exit at loss or open new longs and then a move down begins. If all the "herd" use similar systems, then of course history and chart patterns appear to repeat often.

Even if the stops were "mental stops" or hidden somehow, it wouldn't help because if the market is illiquid (=moves are unpredictable or go always against you if held open), if enough traders perceive price is worth less and adjust their orders, market will soon be moving that way, hitting those stops.

If you have short term position profits before news, weekend, session closes etc, stops held on the broker mostly ensure they disappear.

When bid/ask spread is "tight" it suggests there's either lot of market makers or that their system believes there's little risk to them in trading at those prices. What happens when you have profits is that someone really has losses and then they close/hedge their exposure with some other market maker. Most time the "short end" of the profitable positions ends up with a market maker that has more skill to manipulate prices such that the position ends up profitable, and that's when your profits are gone in a hurry.

went from pushing to smashing....