@ RedBeard, I’m thinking your intentions are good, but you are thinking of things from a retail perspective. If I wanted to go long, and I was a large financial institution, what’s the best way to get my order filled, at a good price?
I think if you start looking at the markets from the points of view of the entities that move them, cogniscant of their restrictions, the seemingly ‘random’ things price does tend to be more rational than you might realize…
I have no idea why did the price shoot up like this when there were all these signs of weakness. Can anyone explain? I would lose on this trade if I entered.
There wasn’t any weakness, If you look at the chart I posted, there is high volume in the last bars but on a bullish candle, that shows strength, I was looking to short at sign of weakness, like more high volume but no price increase but it never materialise, and also quite simple we are in an uptrend no matter how you look at it.
I wish it would be that simple…3 pips lower a hour ago and you would be looking at 1.3700 right now…scratching your head and trying to figure out what’s going on.
Didn’t you notice that dragonfly @2:00am EST 1h candle…around 3/4 through. That was how close it was…
Seems like 3 is a cursed number…seeing as market goes to 1.3832 and misses my offers by that exact amount…[B]coxsonne[/B] I think you’re in cahootz with InterbankDealers to front me! I don’t appreciate it very much
Sometimes even though price is in an uptrend, individuals have specific targets at lower price levels, and if they need to get it filled and they have sufficient financial clout…no uptrend will prevent them from doing so.
There was signs of weakness, but those can switch to be signs of strength. There was strong up bars after that somewhat double top. So it was pretty obv after that, that there was alot buying.
Sign of weakness, or players wanting to catch the ride up? How can you position yourself to benefit from the outcome with the higher probability? Look at things in the context of the beginning of the session.
EDIT: What is happening around 1.3830-13835 is a sign of weakness in my opinion…bust through that and 1.3850, and hold on to your hats! User discretion is advised.
You can’t because you don’t know the quantity of orders…Bids/Offers and at what price they are stacked…liquidity. You would need this information and this information is well guarded for obvious reasons.
The high probability/low risk is placing your each way bets at levels where most likely a well funded player is stepping in.
And that has occured @1.3750isch@2am EST…Interbank Traders got overwhelmed…a UK Clearer put a Bid to Fiber at that level.
That’s when a pip or three becomes very important…
And I still don’t forgive you for front-running my order a few hours ago like that. Very sneaky.
You are mistaken…
price hasn’t got to “that” place, yet where I am going to join the fun.
Cable ist the better option…in my opinion…because they are determined to get to that barrier up there…1.6190 line of defence wasn’t even noticed by the Cable Bulls.
This is a repeat from 95 pips further down…remember this morning 2am EST. They are trying to contain Fiber Bulls because the money flow is just pouring in on the BID side.
They have given up on 1.6250 line of defence in Cable. It’s the barrier…shortly