AUDJPY AREA OF INTEREST AFTER WHIPSAW.
EDIT : THE MENTIONED PIN BAR IS YESTERDAY'S PIN BAR D1. SORRY FOR THE CONFUSION THERE.
price went below the pin bar
triggering sells
while market maker
are loading their buys
because of the
resistance turned support
simple analysis.
this is the market trying to
stop out new traders.
which they did
successfully.
this bull may run out of steam
at the 61.8% or 95.00 level
AUD just successfully
performed a whipsaw.
NOT SAYING THAT WE SHOULD BUY OR SELL BUT I JUST WANTED TO SHARE MY KNOWLEDGE AND ANALYSIS OF WHAT HAPPENED. MARKET MAKER WHIPSAWED THE MARKET CAUSING A 130 PIPS SURGE DOWN AND UP, STOPPING OUT A LOT OF TRADERS, TRAPPING OTHERS. UNLESS YOU HAVE TAKEN A CONTRARIAN TRADE LIKE MARKET MAKERS MOST OF THE TIME DOES.
AN EXAMPLE OF THIS CONTRARIAN TRADE IS THE ONE I AM LOOKING TO TAKE - USDCAD
I WILL BE LOOKING FOR SELL @ 95.00 - 96.00 AUDJPY.
price went below the pin bar
triggering sells
while market maker
are loading their buys
because of the
resistance turned support
simple analysis.
this is the market trying to
stop out new traders.
which they did
successfully.
this bull may run out of steam
at the 61.8% or 95.00 level
AUD just successfully
performed a whipsaw.
NOT SAYING THAT WE SHOULD BUY OR SELL BUT I JUST WANTED TO SHARE MY KNOWLEDGE AND ANALYSIS OF WHAT HAPPENED. MARKET MAKER WHIPSAWED THE MARKET CAUSING A 130 PIPS SURGE DOWN AND UP, STOPPING OUT A LOT OF TRADERS, TRAPPING OTHERS. UNLESS YOU HAVE TAKEN A CONTRARIAN TRADE LIKE MARKET MAKERS MOST OF THE TIME DOES.
AN EXAMPLE OF THIS CONTRARIAN TRADE IS THE ONE I AM LOOKING TO TAKE - USDCAD
I WILL BE LOOKING FOR SELL @ 95.00 - 96.00 AUDJPY.