Sometimes when I read news there’s talk about how, to take an example “Euro has offers at 1.365” or "Yen is bid at “101.5”, etc. How exactly is this supposed to be meant? When they say offers, does that mean that if price were to hit 1.365 there will be large shorts triggered, and at 101.5, large longs come into play?
As another example, just saw a news headline: “Asian offers in USDJPY into 101.80 are helping suppress the pair; stops growing over 101.90”. So what would stops at 101.9 mean in this case?
I understand bid/offer when I am placing my own trade, and then placing my stop or limit. But not in the context of these news headlines…
Yes, that’s my understanding how we should interpret the use of [I]“Euro has offers at 1.365 and “Yen is bid at 101.5”.[/I]
I’m not 100% sure I’ve got this right, but I’m pretty sure we interpret[I] “offers in USDJPY into 101.80”[/I] as orders for [B]“new”[/B] short positions, [I]“stops growing over 101.90”[/I] as sell/stop orders to close [B]“existing”[/B] long positions.