rewand » Wed Oct 12, 2016 6:25 pm wrote:
OK, but how about price moving from 100 to 125, then back to 100? Do they control the direction up and down with intent all the way and not just the way price travels? Are they the strongest?
Don't confuse world bank policy with MM activity. They control the long term movements as you describe and they are the ones who bring events into play like the CHF "black swan".
MM make the market...
Thanks CJ, this is exactly how I understand it, maybe my use of the word "control" was not appropriate. The pictures are fantastic. Internalized..
Another thing about the UJ situation that crossed my mind yesterday and to which I should have paid more attention: before the news hit, price was sitting just below that false area of resistance, which happened to be a nice Round Number (104). We know we should always expect a hunt beyond the round number. The orders sitting there must have been too big a temptation for the fox to pass up.
There will be a pattern modification for the UJ pair later... nice drop on H4 due soon... almost to finish the old pattern but with a little extra at the top.
-CJ-
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
Zaleske » Thu Oct 13, 2016 4:49 am wrote:CJ, are you still looking at EU? I think they're doing the same thing in reverse. Hunt below 1.10 (even nicer BRN) in progress.
Setting up for a big move higher but has to chop a bit down there I think...
A man is not defeated when he is beaten, he is defeated when he quits.
The goal is not a "perfect trade" - the goal is a "profitable trade"!
