OK I think i get where your all coming from now.
I will keep up my studies…
Happy Trading.
Yeah, had a quick look at Chapman’s video, manipulation is the way it has always been.
The shorts on cable were doing 2 things, first what goes up must come down syndrome - very common.
Second, they likely added on confirmation and/or new shorts came to the table on that break down.
See the lower highs, the lower lows, the break of the previous week’s low and then the break of the week low before that - new month low printed - pretty clear it seemed.
But why go short? - to sell GBP or to buy USD - it’s bottom picking USD.
The cable shorts could have been forgiven if they had been watching Eur/Gbp at the same time, they would have seen some GBP selling and thought ‘right here we go’.
But it wasn’t GBP selling, nor was it USD buying just Euro buying and USD selling - a continuation of trend - hr1 price move on Eur/Usd at 12.00gmt (same time that the break reversed) said so.
Cable has been on the rise for about 12 months, takes a lot more than some lower lows and lower highs on hr1 to change that - likely a pull - back next few days, some guys will trade those down, others will wait and trade it back up, the second lot have the wind behind them.
Take care.
Spoiler alert …
we will just follow the trend