todays morning orderflow looks fishy and we might see a move up due to trapped sellers getting fooled by iceberg-orders.
If aggressive buy-pressure comes up soon and sellers give up against the whales we might see a correction to the upside.
I`ll give it a shot even tho its a very risky trade... let`s see
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Jap.. sellers giving up and close trades (turn into buyers)... retracement likely and went long!
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A rare event today that I´v only seen once today!
Buy-Limit-Orders were placed by algorythms every 2 ticks in order to absorb market-sell-orders.
At the same time we have seen aggressive sellers taking that opportunity to get rid of contracts.
We had an immense volume here but slow moves showing that big business has happend here until the market has shown a completed and holding iceverg-order (490x0).
Even though aggressive sellers were dominant price moved up back above the support and could move up if a re.test confirms.
So far we have seen yet again absorption indicated by strong buyers at the top of the previous move. This power had no impact showing that sell-limits are still taking liquidity.
I longed at the iceberg-order but will stack up more positions as soon as support holds showing more aggressive buy-action.
Be cautious.. ther eis big business happening which is hard to trade.