Level play FOLKs! Supply started from first down arrow at around @136.50 area, then price was pushed above for short squeeze to trap retail bull traders. Two consecutive down area after the first one was for trapping gullible retail traders, but intention was always to go down. Then the dump happened & profit was taken, but to continue the short ride. Will they plan to continue the south train ?? Highly probable answer for this is YES! But can anyone be 100% sure of big players motive then answer is NO! But what I have seen throughout from my screen experience suggest that short will be resumed & level @134.20 will be tested. But market is master & time is its tool, it will rule all of us in due time. Time in future will tell us whether we are right or not.
Best of Luck to me & Cheers!
I already banked some pips in initial move down..... reference chart attached.
Best of Luck to me & Cheers!
I already banked some pips in initial move down..... reference chart attached.
