Market-Makers will now trap a huge chunk of SELLERS so that they can place BUY orders (Stop Loss Hunting). The 140.800 zone is very sensitive and risky to keep selling from it! The whales will come in and drive the price right up to 147.000 before price collapses again.
@llozisports, Thank you. Technical analysis is KING!!
Tradersweekly
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Thanks for the chart.
TraxionInvestments
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@Tradersweekly, It's a pleasure. I'm just doing what I do best!
zekk2129
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I have encountered this pattern before, big loss, price a little back to supporting zone and second higher high to squeeze those shorter.
TraxionInvestments
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@zekk2129, This is what makert-makers do to trap both BUYERS and SELLERS. Price will eventually drop to the 140.800 zone. Their play now is just to wipe our all the SELL orders by taking the price to the 147.000 region.
zekk2129
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@TraxionInvestments, Congratulation, you are right! Have recover lot loss from shorting at 146
TraxionInvestments
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@zekk2129, Market-makers are cruel!!! If you can read price like I do you'd be very safe. See how they PUMPED the price???!