The mysterious selling at 1775 (or not so surprising for those who have been tracking the flows since the last diagram). This linkage was known to the pseudo-classical school of TA. The other highlights are going to USDJPY which was reckoned to be such a move to 150.
The 1775 previous support has become resistance for our opponent (and if we are able to test, then we know buyers are "wasting their time" there). Such a move should be faded, never play without being aware that you are sacrificing a certain effectiveness by not selling the steel resistance at the top of the range but we are preventing our opponent and rendering them with more difficulty. If we recognise that any attempt of a breakup from out opponent is not a genuine one (i.e it does not lead to the freeing of the structure) then it would be highly uneconomical to not add offers to the basket. Failing that, a break below the 1725 lows will trigger a waterfall into the 'C' target located at 1520.
The bet was to load on 1775 with NFP outguessing the early development of a swing down, it does not really get much simpler than this for those configuring positions. A break of 1725 is next in play and will open the floodgates, soon all will become clear. Buyers attempting to play any early advance are at risk of total annihilation.
The 1775 previous support has become resistance for our opponent (and if we are able to test, then we know buyers are "wasting their time" there). Such a move should be faded, never play without being aware that you are sacrificing a certain effectiveness by not selling the steel resistance at the top of the range but we are preventing our opponent and rendering them with more difficulty. If we recognise that any attempt of a breakup from out opponent is not a genuine one (i.e it does not lead to the freeing of the structure) then it would be highly uneconomical to not add offers to the basket. Failing that, a break below the 1725 lows will trigger a waterfall into the 'C' target located at 1520.
The bet was to load on 1775 with NFP outguessing the early development of a swing down, it does not really get much simpler than this for those configuring positions. A break of 1725 is next in play and will open the floodgates, soon all will become clear. Buyers attempting to play any early advance are at risk of total annihilation.
