possible ongoing accumulation on fiber by marketmakers
As you guys might know fiber is consolidating on the daily chart. While this is interesting, it's not too important. The important part is knowing where prices will head for next. And to me it looks like the marketmakers have left behind a clue. I compared fiber to DXY and I found the following:
VS
As you can see EUR/USD made a low on december 7th, and made a higher low on december 17th.
DXY made a high on december 7th and made a higher high on december 17th. Wouldn't you expect fiber to make a lower low when dxy makes a higher high? I think that fiber refused to go lower because it's in a marketmaker buying program. Meaning that fiber is under accumulation and that a bullish move may very well occur.
possible bull targets are the following: 1.1186-1.1216 and 1.1322-1.1343
As you can see EUR/USD made a low on december 7th, and made a higher low on december 17th.
DXY made a high on december 7th and made a higher high on december 17th. Wouldn't you expect fiber to make a lower low when dxy makes a higher high? I think that fiber refused to go lower because it's in a marketmaker buying program. Meaning that fiber is under accumulation and that a bullish move may very well occur.
possible bull targets are the following: 1.1186-1.1216 and 1.1322-1.1343
Comment:
update #1 Expecting prices to drop to around 1.0831 before liftoff, going to enter next week as a buyer
Trade closed: target reached:
went long at 1.0833 and dragged it out all the way to 1.094.
Comment:
*drops mic
